 | | | | Investors plowed a record $12.3 billion into investment grade bond funds and ditched equities over the past week, Bank of America Merrill Lynch said on Friday, as worries over trade tensions and the world economy reinforced a run for safe-haven bets. | | | | | | Swiss lender UBS will sign a deal with Japan's Sumitomo Mitsui Trust for a wealth management tie-up in Japan, with the two aiming to establish a new company by 2021, the Japanese bank said on Friday. | | | | | | Investors' aversion to risk-taking intensified in the latest week, stemming from trade tensions between the United States and China as well as Mexico, with U.S.-based domestic equities funds posting $10 billion of cash withdrawals, according to Refinitiv's Lipper research service on Thursday. | | | | | | Investment banking conditions have improved over recent months but remains "very fragile," UBS Chief Executive Sergio Ermotti said on Thursday, adding the Swiss lender's own business was performing in line with the industry. | | | | | | U.S. money market fund assets rose for a sixth consecutive week, bringing the total to a fresh nine-plus year peak as investors piled cash into low-risk funds on concerns about global trade tensions, a private report released on Wednesday showed. | | | | | | For the Parkers of Houston, Texas, there will be no summer vacation this year because they are still paying off the dent in their finances left by 2017's Hurricane Harvey. | | | | | | Britain's financial watchdog said it was examining a decision by a frozen Woodford fund to list investments in Guernsey, as wealth manager St James's Place pulled 3.5 billion pounds ($4.45 billion) from the firm in a widening fall-out from the suspension. | | | | | | Investors pulled approximately $4.7 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week as concerns about escalating trade wars weighed on equity markets worldwide, according to data released Wednesday by the Investment Company Institute. | | | | | |
