Bank of America: Investors flock to the money market and bond funds

According to a report by Golden Finance, Bank of America stated that money market funds welcomed the largest inflow of funds since January, while investment grade bonds and high-yield bond funds saw a new high in inflows since June 2020. According to EPFR Global data cited by Bank of America, cash assets attracted $106.7 billion and bonds attracted $28.5 billion in the week ending August 6th; Gold outflow of $200 million and cryptocurrency outflow of $1.9 billion, the largest weekly outflow since March; The stock market saw an outflow of $41.7 billion, but this was entirely driven by abnormal liquidation outflows from three UK registered funds on July 31st.