US Banking Crisis Spurs $756 Billion Capital Surge Into Cash Funds, Says Bank Of America
Portfolio Pulse from Bibhu Pattnaik
Bank of America reports that money market funds have attracted $756 billion in investments this year due to the US banking crisis and the Federal Reserve's rate hikes. Tech stocks continue to see inflows, with $500 million invested in tech stock funds for the sixth consecutive week.
June 04, 2023 | 3:07 pm
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Bank of America's report on the surge in money market fund investments and tech stock inflows may indicate a shift in investor sentiment and potential impact on the banking sector.
The news highlights the shift in investor sentiment towards money market funds and tech stocks, which may impact the banking sector. However, the direct impact on Bank of America's stock price is uncertain, as the report does not specifically mention the bank's performance or outlook.
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