"The latest weekly figures from EPFR, the Boston-based watcher of global fund flows, give us a snapshot of market sentiment in the days running up to Ben Bernanke’s comments on Wednesday, suggesting an end of quantitative easing could finally be in sight.
They show that investors were feeling relaxed and comfortable, even as rising yields on US Treasuries pushed up yields on emerging market debt and as EM equities remained under pressure. Will that mood last?
EPFR said EM bond funds received inflows equal to 0.3 per cent of assets under management in the week to Wednesday, or about $890m in EPFR’s sample universe (which analysts say covers about one sixth the total). That was an increase on the previous week’s $820m, bringing inflows in the year to date to $22.5bn, compared with $38bn in the whole of 2012."
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