In a far cry from the global stockmarket rout seen in the early part of the year, US equities soared to record levels earlier this month as investors viewed the asset class as a safer prospect against a backdrop of increasing European political risks, while bond proxies benefitted from the search for yield.
After suffering outflows of some $83bn in the first half of the year, US equity funds saw inflows of $12bn in the week to 13 July alone, leading both the Dow Jones and S&P 500 to reach a 15-month peak...
'Following the letter, but not the spirit, of the rules'
Tech giant still stands out
Reduces chances of rate hike
Designed to park short-term cash