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The "weakness in the secondary market will carry over into this week, which may lead to higher yields and wider spreads in the primary market," said CreditSights strategists Pat Luby and Sam Berzok.
Investors often park cash in money-market funds after year-end tax-loss harvesting or portfolio rebalancing. But the current rush of inflows likely underscores their worries.
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Rising concerns of a recession following weaker economic data and expectations the Fed will keep hiking rates to tame inflation led to outflows from global equity funds in the week ended April 19.
(Reuters) - Rising concerns of a recession following weaker economic data and expectations the Fed will keep hiking rates to tame inflation led to outflows from global equity funds in the week ended April 19. | 07:52am