Investors are on track to have put $1.3 trillion into cash funds in 2023, according to Bank of America and data provider EPFR. BoFA's weekly Flow Shows...
LONDON - Investors are on track to have put $1.3 trillion into cash funds in 2023, according to Bank of America and data provider EPFR.
Yet they are competing with money market funds, which invest in highly liquid short-term debt products, such as those issued by governments or highly rated companies. The bank said investors had put money into bonds for four straight weeks. In the week to Wednesday they preferred U.S. shorter-dated bond funds, with $5.2 billion of inflows.
The yield on the 10-year U.S. Treasury, which underpins the global financial system, rose to a 16-year high above 5% last week but has since dropped around 35 basis points. Yields move inversely to prices.
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