Bank of America strategists said that investors are turning to cash assets one after another, and money market funds recorded the largest inflow since April 2020, offsetting the previous week's outflow. Bank of America quoted EPFR global data: For the week ending October 7, money market funds attracted US$166.4 billion, bonds US$33.8 billion, stocks US$12.4 billion, gold US$2 billion, and cryptocurrencies US$600 million. Key weekly capital flows: Technology funds recorded the largest inflow of US$3.5 billion in six weeks; the financial sector recorded the largest outflow since March, at a scale of US$3 billion. A team of strategists led by Michael Hartnett said that until large-scale monetary easing and/or the Federal Reserve's continued interest rate cuts are implemented, cash funds will remain on the sidelines, and “if interest rates are not cut, cash will not be withdrawn.”

Bank of America strategists said that investors are turning to cash assets one after another, and money market funds recorded the largest inflow since April 2020, offsetting the previous week's outflow. Bank of America quoted EPFR global data: For the week ending October 7, money market funds attracted US$166.4 billion, bonds US$33.8 billion, stocks US$12.4 billion, gold US$2 billion, and cryptocurrencies US$600 million. Key weekly capital flows: Technology funds recorded the largest inflow of US$3.5 billion in six weeks; the financial sector recorded the largest outflow since March, at a scale of US$3 billion. A team of strategists led by Michael Hartnett said that until large-scale monetary easing and/or the Federal Reserve's continued interest rate cuts are implemented, cash funds will remain on the sidelines, and “if interest rates are not cut, cash will not be withdrawn.”