Investors rush to money market funds before Fed rate cut, BofA says
Investors poured $37 billion into cash-like money market funds (MMFs) in the week to Wednesday, Bank of America ( ) said on Friday, as they braced for the US Federal Reserve to cut interest rates in September./ It put MMFs on track for their biggest three-week cumulative inflow since January at $145 billion, BofA said, citing figures from financial data provider EPFR./ Investors put $20.4 billion into stocks, $15.1 billion into bonds, and $1.1 billion into gold, BofA said, in its weekly round up of flows in and out of world markets. Many ...
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