Billionaire bond investor Jeffrey Gundlach called Bitcoin and cryptocurrencies are the “poster child” for speculation in a market with frothy valuations. The increasingly hot sector has had a rough couple of days, after Elon Musk sent Bitcoin (BTC) reeling on Wednesday. In a surprise move, the billionaire founder of Tesla […]
money
U.S. investors flee to money market funds in the week ended May 19-Lipper
May 21 (Reuters) – U.S. money market funds lured massive inflows in the week ended May 19 as investors turned risk averse on concerns over higher inflation levels and chances that the Federal Reserve might scale back its monetary support measures. Refinitiv Lipper showed U.S. money market funds received a […]
Jack Ma’s Ant shrinks money market fund as Beijing cracks down
Ant Group’s money market fund has shrunk to a more than four-year low as users shifted their cash in the face of China’s crackdown on Jack Ma’s payments group. Funds invested in Ant’s flagship Yu’e Bao fund fell 18 per cent in the first three months of the year to […]
US money market funds struggle as short-term rates near negative territory
A sector of the US finance industry that looks after $4tn of savings for individuals and businesses has come under severe strain as US markets flirt with negative interest rates. Money market funds investing in short-term government debt have taken in hundreds of billions of dollars of new money from […]
An architect of the ‘printing money’ fix turns into a QE critic
Last year, as the gravity of the threat of the pandemic became clear, the major central banks – which still had QE programs running – expanded them aggressively in tandem with unprecedented levels of fiscal stimulus from their governments in response to what was a more conventional threat of a […]