AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

Investors Poured $756 Billion into Cash Funds This Year, Interest in Tech Continues, Bank of America Says

admin-augaf by admin-augaf
May 28, 2023
in Business, Finance, International, Technology
Reading Time: 2 mins read
0
Investors Poured $756 Billion into Cash Funds This Year, Interest in Tech Continues, Bank of America Says

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. AUGAF/REUTERS/Carlo Allegri/File Photo

Share on FacebookShare on TwitterWhatsapp

New York May 28 2023: Investors have poured $756 billion into cash funds this year, Bank of America said in a note on Friday, attracted by juicy yields and driven by concerns about banks.

The rush into money market funds continued in the week to Wednesday, with $23.1 billion flowing into the cash-like instruments, according to BofA, which cited figures from financial data company EPFR.

Rising interest rates have pushed up the yields available on money market funds, which are mutual funds that invest in highly liquid short-term debt, such as that issued by governments.

The collapse of a handful of mid-sized U.S. banks this year has caused many people and companies to pull their money out of bank deposits and put it into MMFs.

BofA’s note also showed that interest in tech stocks continued, with $500 million flowing into tech stock funds in the sixth straight week of inflows.

The tech-heavy Nasdaq U.S. stock index (.NDX) has risen around 25% this year, boosted by excitement about artificial intelligence.

Overall, however, stock funds saw their third straight week of outflows, at $3.9 billion.

Bond funds saw inflows of $9.5 billion in the week to Wednesday. That took total yearly inflows to $152 billion, BofA said.

The flow into cash funds is rapidly approaching 2020 levels, when COVID-19 spooked investors and $917 billion made its way into money market funds.

Tags: Cash FundsEquitiesMoney Market
admin-augaf

admin-augaf

Related Posts

JPMorgan Set to Hire 20 More Bankers in Saudi Arabia Expansion
Business

Pakistan is Capable of Meeting Budget Targets, JP Morgan Report

June 18, 2025
Careem suspend food services in Pakistan from today
Business

Careem Suspend Ride Hailing Services in Pakistan as Competition Intensifies

June 18, 2025
Inflation
Business

UK Inflation Slows in May Despite Food Prices Jump

June 18, 2025
Fair Global Consult Fair Global Consult Fair Global Consult
ADVERTISEMENT

Recent News

JPMorgan Set to Hire 20 More Bankers in Saudi Arabia Expansion

Pakistan is Capable of Meeting Budget Targets, JP Morgan Report

June 18, 2025
Careem suspend food services in Pakistan from today

Careem Suspend Ride Hailing Services in Pakistan as Competition Intensifies

June 18, 2025
Inflation

UK Inflation Slows in May Despite Food Prices Jump

June 18, 2025
UAE’s Islamic Treasury Sukuk Oversubscribed 7.6 Times

UAE Exempts Iranian Citizens from Overstay Fines Amid Regional Airspace Closures

June 18, 2025

Interloop Associate Acquired Bonnie Doom Brand

June 18, 2025

Popular News

  • NSS

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Petrol Prices in Pakistan to Return to July 2023 Levels

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • Pakistan is Capable of Meeting Budget Targets, JP Morgan Report
  • Careem Suspend Ride Hailing Services in Pakistan as Competition Intensifies
  • UK Inflation Slows in May Despite Food Prices Jump

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

JPMorgan Set to Hire 20 More Bankers in Saudi Arabia Expansion

Pakistan is Capable of Meeting Budget Targets, JP Morgan Report

June 18, 2025
Careem suspend food services in Pakistan from today

Careem Suspend Ride Hailing Services in Pakistan as Competition Intensifies

June 18, 2025
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.