at a fast pace until inflation came under control, Reuters reports. These types of funds play in markets like currencies and government bonds, where prices are driven by big-picture economic issues.
But when the banking panic broke out, people instead rushed for the safety of government bonds, pushing rates — which move in the opposite direction of prices — sharply lower.That means those who had been betting on higher rates — and, therefore, lower prices — had to rush to buy bonds, supercharging the already big upward move in prices and downward dive in yields.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: