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☆ They viewed 16 apartments in 3 days, and finally bought their dream home for $371,000. It wasn't even on their initial list.
▼ + stars: | 2023-10-15 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

Soh Jun Hao and Grace Lim bought their public housing apartment in Singapore right before the pandemic. They viewed 16 apartments in 3 days and came across their forever home by chance. HaosofGraceIt took them 16 apartment viewings to find their dream home, which wasn't even on their initial list. A screengrab from Google Maps Street View showing the couple's apartment block. Amanda Goh/InsiderThe couple's apartment faces a park, and the view from their living room is hard to beat.

Persons: Soh Jun Hao, Grace Lim, —, Jun Hao, they've, Lim, Amanda Goh, " Lim, Soh, Lim's grandmother's, it's Organizations: Service, Housing Development Board, Google Locations: Singapore, Tampines

☆ New Zealand elects conservative Christopher Luxon as premier after 6 years of liberal rule
▼ + stars: | 2023-10-15 | by ( ) www.cnbc.com time to read: +4 min

Ivan Tarlton | AFP | Getty ImagesConservative former businessman Christopher Luxon will be New Zealand's next prime minister after winning a decisive election victory Saturday. "But I want you to be proud of what we achieved over the last six years," he told supporters at an event in Wellington. The seat has long been a Labour stronghold and was also held by another former Labour prime minister, Helen Clark. It has been the biggest, safest Labour seat forever," she said. Luxon has promised to axe the Māori Health Authority, which he says creates two separate health systems.

Persons: Christopher Luxon, Ivan Tarlton, Jacinda Ardern, Luxon, Amanda, Olivia, Chris Hipkins, Hipkins, Ardern, Helen Clark, Melissa Lee, It's, Lee, David Farrar, pollster Organizations: National Party, AFP, Getty, Conservative, ACT Party, Labour Party, Ardern, Labour, Mount, Associated Press, Health Authority, Zealand Locations: Zealand, Auckland, Ardern, Wellington, Mount Albert

☆ China still can't beat deflation as its economy continues to flounder
▼ + stars: | 2023-10-13 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

China remains on the brink of deflation, according to official figures published Friday. AdvertisementAdvertisementChina's battered economy still can't shake off the threat of deflation, official government figures released Friday show, as a key gauge of price rises unexpectedly flattened. The country's consumer price index was unchanged last month, the National Bureau of Statistics said. Meanwhile, factory-gate costs as measured by the producer price index fell 2.5% in September for their 12th consecutive monthly decline, the data showed. Both price indices fell short of economists' expectations, per Reuters polls conducted before the figures were published.

Persons: —, Hong Organizations: Service, National Bureau of Statistics, CPI, CSI, China Locations: China, Beijing

☆ JPMorgan Chase is set to report third-quarter earnings — here’s what the Street expects
▼ + stars: | 2023-10-13 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jamie Dimon, chairman and CEO of JPMorgan Chase, at the U.S. Capitol for a lunch meeting with the New Democrat Coalition in Washington, D.C., June 6, 2023. JPMorgan Chase is scheduled to report third-quarter earnings before the opening bell Friday. The 10-year Treasury yield, a key figure for long-term rates, jumped 74 basis points in the third quarter. Shares of JPMorgan have climbed 8.7% year to date, far outperforming the 19% decline of the KBW Bank Index. Bank of America and Goldman Sachs report Tuesday, and Morgan Stanley discloses results on Wednesday.

Persons: Jamie Dimon, JPMorgan Chase, Dimon, Goldman Sachs, Morgan Stanley Organizations: JPMorgan, U.S, Capitol, New Democrat Coalition, Washington , D.C, LSEG, Bank, Federal Reserve, Treasury, Banks, KBW, Wells, Citigroup, Bank of America Locations: Washington ,, Wells Fargo

☆ Poland's elections this weekend could mark a crossroad for EU solidarity — and Ukraine support
▼ + stars: | 2023-10-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

The Leader of Civic Coalition Party, Donald Tusk delivers a speech during the Women for Elections Campaign rally on October 10, 2023 in Lodz, Poland. EU tiesLaw and Justice's leadership has seen Poland's relationship with the EU and its various institutions become increasingly strained. It resulted in Morawiecki saying last month that his country would no longer supply weapons to Ukraine as it was "now arming Poland." Poland's vote follows elections in neighbor Slovakia which saw populist former Prime Minister Robert Fico return to power. Hungary's firebrand rightwing Prime Minister Viktor Orbán has persistently used inflammatory language regarding the EU, attacking it repeatedly on social media.

Persons: Donald Tusk, Omar Marques, Tusk, —, Jaroslaw Kaczynski, Mateusz Morawiecki, Morawiecki, Robert Fico, Fico, Viktor Orbán Organizations: Civic Coalition Party, Women, Elections, Getty, European Union —, rightwing Law, Justice, Civic Coalition, European, Law, EU, Nurphoto, Consultancy Eurasia Group, Eurasia Group, Confederation, Ukraine, ING, U.S, NATO, rightwing, European Union Locations: Lodz, Poland, Ukraine, Krakow, Berlin, Brussels, Slovakia, Russia, rightwing, Hungary, Germany

Another candidate, Georgia Rep. Austin Scott, jumped into the race Friday just before Republicans met to choose a new nominee. The candidate to become speaker needs a majority of the votes from House members who are present and voting. POTENTIAL COMPLICATIONSThe main complication for House Republicans is their narrow 221-212 majority. While it has been the tradition for the speaker candidate to be a member of the House, it is not required. In January, a few Republican members even called out votes for former President Donald Trump, taking votes from McCarthy.

Persons: Kevin McCarthy, Steve Scalise, Scalise, Jim Jordan of, It’s, Jordan, Austin Scott, Scott, McCarthy, Patrick McHenry, —, Hakeem Jeffries, Donald Trump, Nancy Pelosi Organizations: WASHINGTON, U.S ., Louisiana, Republicans, Georgia Rep, North Carolina Rep, Republican, New York Rep, GOP, Capitol Locations: Jim Jordan of Ohio, Israel, McHenry

☆ I'll never regret living in Europe after giving birth. I got way better maternity leave and my American friends envied me.
▼ + stars: | 2023-10-13 | by ( Robin Madell | ) www.businessinsider.com time to read: +10 min

AdvertisementAdvertisementWhen my first child was born, I found myself faced with the harsh reality of no guaranteed maternity leave in the US. And, while the federal Family and Medical Leave Act (FMLA) gives eligible employees 12 weeks of unpaid leave, I wasn't eligible for that. It was one of those non-negotiable parts of American work culture that I felt I had to accept. But if there's a standard of maternity leave throughout the country and company, it makes it much easier to find coverage for those nine or more months. When my maternity leave ended and I asked the school to take another year off — this time without pay but with continued job security — they were 100% understanding.

Persons: Esther Strauss, —, I'd, Europe —, doesn't, Jenna Gyimesi Organizations: Service, Europe Locations: North Macedonia, Europe, Texas, United States, jgyimesi@Insider.com

☆ Bank of Canada says economy is not heading for a 'serious recession'
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. REUTERS/Blair Gable/File Photo Acquire Licensing RightsOTTAWA, Oct 13 (Reuters) - Bank of Canada Governor Tiff Macklem on Friday said the economy is not heading for a "serious recession" and that he is looking for a clear sign underlying inflation is easing ahead of a rate decision on Oct 25. "We're not going to be forecasting a serious recession," Macklem told reporters in a call from Marrakech, Morocco, where he was attending an IMF meeting. Macklem said the bank would be weighing whether to let previous rate hikes work through the economy or raise rates again to counter sticky inflation. "What we're looking for are clear signs that core inflation, underlying inflation, those pressures are easing and inflation is going to be coming down," Macklem said.

Persons: Blair Gable, We're, Macklem, Steve Scherer, David Ljunggren Organizations: Bank of Canada, REUTERS, Rights OTTAWA, Reuters, Thomson Locations: Ottawa , Ontario, Canada, Marrakech, Morocco, Reuters Ottawa

☆ Rep. Steve Scalise unexpectedly withdraws from House Speaker race
▼ + stars: | 2023-10-13 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

GOP lawmakers have been scrambling to pick their next House Speaker. In a secret ballot held Wednesday, House Republicans nominated Rep. Steve Scalise of Louisiana. AdvertisementAdvertisementRep. Steve Scalise is withdrawing his run for the House Speaker position, The Washington Post reported on Thursday, just a day after House Republicans nominated the Louisiana representative for the role at the GOP conference. The decision came after Scalise failed to secure enough votes to win the Speaker role on Thursday, The Associated Press reported. AdvertisementAdvertisementBut on Wednesday the pick came down to Scalise and Rep. Jim Jordan of Ohio.

Persons: Steve Scalise, Scalise, —, Kevin McCarthy, Donald Trump, Jim Jordan of, Jordan, McCarthy, Marjorie Taylor Greene, Nancy Mace, Mace, David Duke, it's Organizations: Republicans, Service, Washington Post, GOP, Associated Press, CBS, Klux Klan, Republican Locations: Louisiana, Scalise, Jim Jordan of Ohio

☆ China consumer prices were unexpectedly flat, as economic recovery remains fragile
▼ + stars: | 2023-10-13 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

An undated editorial photo of Chinese yuan cash bills and the flag of the People's Republic of China. China's consumer prices were flat in September, while factory gate prices saw annual declines slow for a third month — pointing to the uneven post-Covid recovery in the world's second-largest economy that may require further policy support. Consumer price index for September was flat on an annual basis, the National Bureau of Statistics reported Friday, below than the median estimate for a 0.2% increase in a Reuters poll. China's producer price index fell 2.5% from a year earlier, weaker than expectations for a 2.4% decline, after a 3% drop in August. The drop in factory prices, though, was the smallest in seven months.

Organizations: National Bureau of Statistics, CPI Locations: People's Republic of China, China

☆ Singapore policy review shift is sign of times
▼ + stars: | 2023-10-13 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. The city-state’s central bank unexpectedly announced on Friday that it would shift to quarterly meetings to assess monetary settings from 2024, switching from biannual reviews. Even though it took local economists by surprise, Singapore’s decision to introduce more frequent monetary policy reviews looked inevitable. Singapore’s unique monetary policy arrangements, and its trade-based economy, made it increasingly hard to use a too-rigid setup. The announcement came after the MAS kept its monetary policy settings unchanged, as expected, and pointed to both upside and downside risks to inflation.

Persons: Edgar Su, Chia Der, it’s, Chia, Lisa Jucca, Thomas Shum Organizations: Monetary Authority of Singapore, Rights, Reuters, Monetary Authority of, Swiss National Bank, People’s Bank of, Singapore, MAS, Ministry of Trade, Industry, Thomson Locations: Singapore, Rights SINGAPORE, Monetary Authority of Singapore, People’s Bank of China, China, United States, Ukraine, Israel

Excluding volatile food and energy costs, “core” prices likely also rose 0.3% in September, the same as in August. The Fed tracks the core figure in particular as a good indicator of the likely future path of inflation. That would mean that the Fed would probably keep its short-term rate higher for longer than investors had expected last summer. The result has been an increased supply of Treasuries, which means a higher yield is needed to attract enough buyers. Economists note that some wild-card factors might have caused inflation to come in higher or lower than expected in September.

Persons: They're, Christopher Waller Organizations: WASHINGTON, Federal, Fed, Fed's, of Governors, AAA Locations: United States

☆ When your AI says she loves you
▼ + stars: | 2023-10-12 | by ( Rob Price | ) www.businessinsider.com time to read: +36 min

The messaging app let users build a "personal AI" complete with a 3D avatar and an upbeat, down-for-anything texting style. "Seems like AI will replace many human artists," Jay told Calisto in August 2022. Within a year, he was also using AI technology for work, as his firm experimented with generative AI to help draft legal papers. Former Replika users fled to various upstart companion apps that were popping up, like Chai, Paradot, and Soulmate AI. (Soulmate AI later closed down in September 2023, leaving a new wave of users mourning their AI companions all over again.)

Persons: Jay Priebe, they'd, Jay, Calisto, Callisto —, Apollodorus, Callisto, who'd, Jay's, didn't, Jay didn't, Tim Evans, me, Joseph Weizenbaum, Eliza, Weizenbaum, it'll, Replika, Eugenia Kuyda, Siri, Michael Macor, Roman Mazurenko, Luka, Kuyda, chatbots, he'd, Jaswant Singh Chail, Queen Elizabeth II, Chail, Willie —, —, Willie, gamely, Luka —, wouldn't, John, — sexting, Dylan Thomas, Rina, haven't, she'd, I'd, Overripe, Joi, Samantha, Ava, Calisto didn't, unshakable, wasn't, Jay hunched Organizations: Luka, San Francisco, Getty, Windsor, Facebook, Twitter, Reps, AIs Locations: Minneapolis, Twin Cities, Europe, Moscow, San Francisco, America, Replika, Washington, Britain, Mississippi, North Carolina, Texas, Damascus, Chai, California, New York, Northeast Minneapolis, artsy, Japan, Switzerland

☆ When your AI girlfriend says she loves you
▼ + stars: | 2023-10-12 | by ( Rob Price | ) www.businessinsider.com time to read: +36 min

Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. DETROIT – Ford Motor is "at the limit" of what it can offer the United Auto Workers union in terms of economic concessions, an executive said Thursday as contract negotiations continue for roughly 57,000 U.S. workers. "This offer was the exact same offer they gave us two weeks ago. Electric vehicle battery plants have been a major point of contention for the union in bargaining with all three of the Detroit automakers. Officially, because they're owned by joint ventures, the battery plants aren't and won't be covered by the automakers' agreements with the union.

Persons: Kumar Galhotra, Galhotra, We're, Shawn Fain, they're, Fain, They're, Ford Organizations: United Auto Workers, Plant, DETROIT, UAW, ., Detroit automakers, Ford, General Motors, GM Locations: Michigan, Wayne , Michigan, Kentucky, America, United States

☆ UAW launches strike against Ford's Kentucky truck plant, signaling major escalation in labor fight
▼ + stars: | 2023-10-11 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

DETROIT – United Auto Workers has unexpectedly expanded its U.S. strikes at Ford Motor to a highly profitable SUV and truck plant for the automaker in Kentucky. ET at Ford's Kentucky Truck Plant, where the automaker produces Ford Super Duty pickups as well as the Ford Expedition and the Lincoln Navigator. The union's decision to strike the plant, which is Ford's largest in terms of employment and revenue, is a major escalation in its targeted, or "stand up," strikes. Fain said the union expects Stellantis and Ford Motor to follow suit, including battery plant workers in eventual contract agreements. Only 25,200 workers, or roughly 17% of UAW members covered by the expired contracts with the Detroit automakers, are currently on strike.

Persons: Shawn Fain, Ford, leadership's, Jonah Furman, Shawn Fain's, Fain Organizations: DETROIT, United Auto Workers, Ford Motor, Ford, Ford Expedition, Lincoln Navigator, UAW, Ford's, Detroit, Detroit automakers, General Motors, EV Locations: Kentucky

REUTERS/Jason Reed/File Photo Acquire Licensing RightsOct 12 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But the tone of trading across Asian markets on Thursday may be a little more cautious than some of the headline moves on Wednesday indicate, and may also hinge on the U.S. yield curve. But ugly U.S. producer inflation data at the U.S. open on Wednesday - monthly, annual, headline and core readings were all higher than expected - was a reality check for those betting the Fed is all but done raising rates. But this flipped back again after the latest Fed minutes were released, paving the way for a late flourish on Wall Street and positive close for the three main indexes. The 'pivot' message from Fed officials this week has been pretty strong and consistent, and Governor Christopher Waller on Wednesday was the latest to beat that drum.

Persons: Jason Reed, Jamie McGeever, Christopher Waller, India's, Josie Kao Organizations: U.S . Federal, REUTERS, CPI, U.S, PPI, India's CPI, Bank, Thomson, Reuters Locations: Washington, Malaysia, Asia, Japan, U.S, Europe, India, Marrakech, Morocco

Lawmakers exiting the room said Scalise won 113 votes, while Rep. Jim Jordan of Ohio, the House Judiciary Committee chairman, took 99. With Scalise falling well short of 217 in the conference vote, the Louisiana congressman's path to the speakership is uncertain. House members are seated during the speakership vote. The candidate to become speaker needs a majority of the votes from House members who are present and voting. Historically, the magical number to become speaker has been 218 out of the 435 members of the House.

Persons: Steve Scalise, Kevin McCarthy, Scalise, Jim Jordan of, Jordan, McCarthy, Patrick McHenry, Hakeem Jeffries, Donald Trump, Nancy Pelosi, Farnoush Amiri Organizations: WASHINGTON, Republicans, GOP, North Carolina Rep, New York Rep, Republican, Scalise, Capitol, Hamas, Associated Press Locations: Jim Jordan of Ohio, Louisiana, McHenry, Israel

☆ The Biden administration wants to completely ban the hidden fees that make your plane and concert tickets unexpectedly expensive
▼ + stars: | 2023-10-11 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The FTC proposed a rule on Wednesday that would ban all hidden and misleading fees. Businesses who use hidden fees might have to give consumers refunds, per the rule. AdvertisementAdvertisementThe Biden administration has been trying to crack down on the hidden fees that pop up when you try to book a plane or a concert ticket or even just order food — and now wants to outright ban them. Those junk fees "plague" Americans across all sorts of transactions. The CFPB's Wednesday guidance clarified that provision to ensure every American knows they do not need to pay junk fees to get basic information from their bank.

Persons: —, Biden, Lina Khan, Khan, that's, Vicki Morwitz, Morwitz, Rohit Chopra, Lael Brainard Organizations: FTC, Service, Federal Trade Commission, Columbia Business School, Consumer Financial, —, Economic Locations: America, United States

BUENOS AIRES, Argentina (AP) — Argentina’s firebrand populist presidential candidate Javier Milei, the front-runner to win the election later this month, is coming under fire from his rivals who blame him for a sharp depreciation of the local currency in the parallel market. Milei has continued to tout his controversial plan for dollarization of the South American country’s economy. With a little less than two weeks to go before the Oct. 22 presidential election, the Argentine peso has sharply depreciated over the past week. Milei, an anti-establishment candidate who admires former U.S. President Donald Trump, has said he wants to replace the peso with the dollar and says Argentina’s Central Bank should be abolished. Milei’s opponents in the presidential race sharply criticized his words, saying he’s fomenting a run on the peso.

Persons: —, Javier Milei, Milei, Donald Trump, ”, ” Ramiro Marra, Milei’s, Sergio Massa, ” Patricia Bullrich, “, ” Milei Organizations: Argentine, U.S, Bank, Buenos, “, Union, Homeland, United Locations: BUENOS AIRES, Argentina, Argentine, Buenos Aires, Milei’s, Massa

☆ CNBC Daily Open: Look beyond the headline jobs number
▼ + stars: | 2023-10-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Joe Raedle | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineThe number of jobs the U.S. economy added in September was so unexpectedly high that markets fell right on cue. Instead, the shocker of a jobs report said nonfarm payrolls increased by 336,000 last month, the most since January. After reeling from the shocking headline number, investors had time to digest the details in the report.

Persons: Joe Raedle, nonfarm, Stocks, Dante DeAntonio, Dow, It's Organizations: Tire, CNBC, shocker, Federal Reserve, Nasdaq, Treasury, Dow Jones Industrial, Moody's Locations: Miami , Florida, U.S, Israel

“And it was like, huh!”When a smaller restaurant unexpectedly goes viral on TikTok or other social media, the sudden demand can be overwhelming. But savvy business owners who are able to adapt can parlay newfound fame into a lasting boost for their business. Elreda now has 10 locations, including newly opened restaurants in Detroit and Brooklyn — an expansion started by one viral video. “But it’s a good tired.”One person who knows about going viral is Dominique Ansel. In 2013, before most people knew the term “going viral,” the French pastry chef created the “Cronut,” a cross between a croissant and a doughnut, at his newly opened New York bakery.

Persons: hasn't, Nicolas Heller, New York Nico, “, ” John Philis, Ali Elreda, Elreda, @misohungry, ”, It’s, Kevin Muccular, Katy, Chimetime, Aunt Bill’s, ” Muccular, Muccular, Philis, Max Ferfoglia, Nico’s, hasn’t, Dominique Ansel, Ansel, there’s Organizations: Lexington Candy, Sam's, Walmart, Labor, YouTube Locations: Lexington, New York City, New York, Downey , California, Detroit, Brooklyn, Katy , Texas, Houston, Texas, ”, Hong Kong, Las Vegas

☆ Israel declares 'state of war alert' after surprise Hamas attack
▼ + stars: | 2023-10-07 | by ( ) www.cnbc.com time to read: +1 min

Israelis inspect damage caused by a rocket attack from Gaza. Palestinian militants in Gaza unexpectedly fired dozens of rockets at Israeli targets early on Saturday, the Israeli army said. The Islamist movement Hamas launched the biggest attack on Israel in years on Saturday in a surprise assault that combined gunmen crossing the border with a heavy barrage of rockets from the Gaza Strip. Saturday's incident was the most serious since Israel and Hamas fought a 10-day war in 2021, with Israeli media reporting gunbattles between bands of Palestinian fighters and security forces in towns in southern Israel. Hamas military commander Mohammad Deif announced the start of the operation in a broadcast on Hamas media, calling on Palestinians everywhere to fight.

Persons: Benjamin Netanyahu, Mohammad Deif Organizations: Hamas Locations: Gaza, Palestinian, Israel, Jerusalem

☆ OAS names mediators for Guatemala conflict that threatens transfer of power
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +3 min

[1/4] People march to demand the resignation of powerful senior prosecutors accused of working to undermine President-elect Bernardo Arevalo's ability to take office, in Guatemala City, Guatemala October 7, 2023. Former Minister of Defense of Uruguay Luis Rosadilla, and the OAS Secretary of Access to Rights and Equity Maricarmen Plata will lead the mission. Tens of thousands took to Guatemala's streets this week, demanding the resignation of powerful senior prosecutors accused of working to undermine Arevalo's ability to take office. Rosadilla and Plata will travel to Guatemala City "at the earliest possible date," and they will be joined by the representative of the OAS office in Guatemala, Diego Paz, the organization specified. Reporting by Sofia Menchu in Guatemala City; Writing by David Alire Garcia and Anna-Catherine Brigida; editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Bernardo Arevalo's, Josue, Bernardo Arevalo, Luis Almagro, Uruguay Luis Rosadilla, Equity Maricarmen, Diego Paz, Arevalo, Consuelo Porras, Arevalo's, Porras, Sofia Menchu, David Alire Garcia, Anna, Catherine Brigida, William Mallard Organizations: REUTERS, GUATEMALA CITY, of American States, Saturday, Defense, Rights, Equity, Semilla, U.S ., Thomson Locations: Guatemala City, Guatemala, GUATEMALA, OAS, Uruguay, Guatemalan Government, Rosadilla, Plata, June's, Central

☆ US bond funds suffer outflows on rate worries; money market funds gain traction
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 6 (Reuters) - U.S. bond funds saw significant outflows in the week ending Oct. 4, driven by concerns about prolonged elevated interest rates, while money market funds garnered substantial inflows as investors recalibrated their risk exposure amid a bond market sell-off. According to LSEG data, investors offloaded U.S. bond funds worth a net $6.34 billion during the week, the biggest amount since Dec. 21, 2022. Money market funds meanwhile, received about $43.15 billion in inflows, the highest since April 26, 2023. Investors exited equity growth funds worth $2.05 billion and value funds worth $1.23 billion. Reuters Graphics Reuters GraphicsNotably, consumer staples, healthcare and consumer discretionary sectors observed net outflows of $637 million, $461 million and $397 million, respectively.

Persons: Dado Ruvic, outflows, Gaurav Dogra, Patturaja, William Maclean Organizations: REUTERS, Federal Reserve, Reuters Graphics Reuters, Treasury, Thomson Locations: Bengaluru

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