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Search resuls for: "Generali Investments Partners"


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Reuters GraphicsEuropean funds have effectively returned nothing this year after two down years, Morningstar data shows. Government bond funds have fared even worse and are set for three years of losses in both the U.S. and Europe. Bond yields rise as prices fall, and vice versa. Reuters GraphicsBank of America said there were $5.6 billion of inflows to long-dated Treasury funds last week, the largest on record. ICI data shows that U.S. money market funds have ballooned to $5.6 trillion in assets, from $4.6 trillion in October last year.
Persons: Dado Ruvic, Stefano Fiorini, Oliver Blackbourn, Janus Henderson, You've, Jonas Goltermann, Max Kettner, Harry Robertson, Mark Potter Organizations: REUTERS, Reuters Graphics, Morningstar, U.S, Generali Investments Partners, Reserve, Reuters, Treasury, Citi, ICE, Fed, Capital Economics, Investment Company Institute, Reuters Graphics Bank of America, Reuters Graphics Reuters, ICI, HSBC, Thomson Locations: Europe, U.S
ECB chief Christine Lagarde said the central bank for the 20 countries that share the euro was not pausing. "This is a very restrictive policy and it will turn into credit tightening and that will bring a recession." The ECB has now increased its key deposit rate by some 375 bps since last July, from -0.5%. U.S. rates have jumped 500 bps, with the Federal Reserve hiking again on Wednesday while opening the door to a pause. Gareth Rudd, a European equity fund manager at Chelverton Asset Management, said he was negative on European bank stocks because regulators will want them to conserve capital instead of paying dividends.
Alongside that dash for safe havens was a rapid repricing of rate-hike bets as banking turmoil raised financial stability risks, fuelling the rally in government debt. But coming so soon after markets had positioned for bigger U.S. rate hikes to tame inflation, bonds swung wildly. March's sharp drop in two-year yields followed a 59 bps jump in February. Two-year Treasury yields are down 24 bps this quarter, their biggest quarterly drop since the 2020 COVID-19 crisis. The likes of JPMorgan, BofA and Morgan Stanley, expect Treasury yields to end 2023 lower; others such as Goldman Sachs and BNP Paribas expect a rise.
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