Bank of America said that all major asset classes saw capital inflows this week, with money market funds and bond funds absorbing the vast majority of capital. Bank of America quoted EPFR global data as showing that for the week ending September 2, money market funds had inflows of 30 billion US dollars, bonds had inflows of 18.3 billion US dollars, gold inflows of 3.2 billion US dollars, stocks had inflows of 16.1 billion US dollars, and cryptocurrencies had inflows of 500 million US dollars. Key capital flow highlights this week: the total inflow of cryptocurrency over the past five weeks was 5.5 billion US dollars, the highest since October last year; the inflow of stock capital was the lowest in the past nine weeks; the technology sector had an outflow of 1.5 billion US dollars, the largest since June; and the financial sector had an outflow of 900 million US dollars for the fifth week in a row. A strategist led by Michael Hartnett said that the sharp appreciation of the yen indicates that “policy fears” are emerging. The “whatever the cost” policy introduced to maintain nominal macroeconomic prosperity and the bullish market in asset prices means that we should continue to look at commodities and assets such as gold to hedge against currency depreciation.

Bank of America said that all major asset classes saw capital inflows this week, with money market funds and bond funds absorbing the vast majority of capital. Bank of America quoted EPFR global data as showing that for the week ending September 2, money market funds had inflows of 30 billion US dollars, bonds had inflows of 18.3 billion US dollars, gold inflows of 3.2 billion US dollars, stocks had inflows of 16.1 billion US dollars, and cryptocurrencies had inflows of 500 million US dollars. Key capital flow highlights this week: the total inflow of cryptocurrency over the past five weeks was 5.5 billion US dollars, the highest since October last year; the inflow of stock capital was the lowest in the past nine weeks; the technology sector had an outflow of 1.5 billion US dollars, the largest since June; and the financial sector had an outflow of 900 million US dollars for the fifth week in a row. A strategist led by Michael Hartnett said that the sharp appreciation of the yen indicates that “policy fears” are emerging. The “whatever the cost” policy introduced to maintain nominal macroeconomic prosperity and the bullish market in asset prices means that we should continue to look at commodities and assets such as gold to hedge against currency depreciation.