(Reuters) – U.S.-based high-yield junk bond funds posted greater than $four billion of outflows within the week ended Wednesday, the most important weekly money withdrawals since October 2018, in keeping with Refinitiv’s Lipper knowledge, triggered by an escalating commerce conflict between China and the US.

Buyers scrambled into safer U.S.-based money-market funds, which attracted $64.66 billion within the week ended Wednesday, the fifth largest weekly influx on file since 1992, Lipper stated.

Late Sunday, China let the yuan breach the important thing 7-per-dollar degree for the primary time in additional than a decade and introduced it was stopping its purchases of U.S….

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