Global money market funds surge

Gulf Today Report 

Investments into money market funds rose to the highest this year in March, following a decline in bond prices and fresh restrictions in Europe.

Global money market funds received inflows of $44.7 billion, the largest inflow since December, according to data by Refinitiv Lipper.

However, equity funds recorded $17.6 billion inflows, the lowest in three weeks due to increase in US bond yields.

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Overall, equity funds received net buying of $289.6 billion in the first quarter, the biggest since at least 2013, though the inflows slowed by the end of the quarter.

Meanwhile, investors net bought $8.4 billion worth of global bond funds, which was about 19% higher than the previous week, boosted by inflows into US medium-term bonds and high-yield bonds.