Investors rush to buy inflation protection - BOfA
05/14/2021 | 04:40am EDT
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LONDON (Reuters) -Investors are loading up on inflation protection, while starting to grow more cautious on rate-sensitive tech stocks as fears grow of a price uptick that may force the U.S. Fed to bring forward policy tightening, BofA s weekly data showed on Friday.
During the week to May 12, Treasury Inflation-Protected Securities (TIPS) funds saw the largest inflow in 23 weeks, taking in $1.9 billion, BofA said, citing EPFR data on fund flows.
At the same time, equity funds dedicated to interest rate-sensitive tech stocks saw their first outflow in five weeks, albeit only $17 million.
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The Economic Outlook And Monetary Policy, Federal Reserve Governor Christopher J. Waller, At The Global Interdependence Center s 39th Annual Monetary and Trade Conference, The LeBow College Of Business, Drexel University, Philadelphia, Pennsylvania (Via Webcast) Date
13/05/2021
Thank you, Kathleen, and thank you, George and the Global Interdependence Center, for the invitation to speak to you this afternoon. I am with you to talk about my outlook for the U.S. economy and the implications for monetary policy.1 In the last week we have received employment and inflation reports that have garnered a lot of attention. Incorporating this information into my outlook, I have two messages today. The first is that, despite an unexpectedly weak jobs report, the U.S. economy is hitting the gas and continuing to make a very strong recovery from the severe COVID-19 recession. Let s remember, and this applies to latest inflation data too, that a month does not make a trend the trend for th