Emerging market equity funds lost $ 3.1 billion to record inflows of flows for the twentieth consecutive week, while developing debt instruments lost $ 1.9 billion in the week ending Wednesday, raising the total inflows from emerging market assets to $ 91 billion after investors scrambled towards safe havens with financial market turmoil Due to the outbreak of the Corona pandemic.
The Institute of International Finance said on Wednesday that portfolio outflows from emerging markets jumped to $ 32.1 billion in June from $ 3.5 billion in May and debt securities accounted for the bulk of the flows.
Bank of America said in a report yesterday that the money market funds witnessed the largest refunds since December 2019 in the week ending Wednesday, while $ 7.1 billion was withdrawn from equity funds.
Bank of America said its index “bull and bear” was no longer in the “buy” region for the first time since March 17, and that investors had also pumped $ 15.3 billion into bond funds and $ 2 billion in gold. But Bank of America indicated that the opposite trading trend now is to buy emerging market assets to take advantage of the weakening dollar.
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