Funds further added to record emerging market positions last week according to cross asset flows data analyzed by Bank of America Merrill Lynch’s global market analysis team.
According to Commitments of Traders data from the Commodity Futures Trading Commission, managed money brought $3 billion of WTI crude last week and sold $0.5 billion of silver. Gold and copper positions were mostly kept stable.
Emerging Markets Rally But Investors Should Be Careful
Leveraged funds brought $4 billion of S&P 500 futures, $0.8 billion of JPYUSD and $0.5 billion of EURUSD, but sold Treasuries across the board. Meanwhile, asset managers bought $1.8 billion of 2-year Treasury, $1.6 billion of EM and $0.9 billion of JPYUSD futures, while selling $0.7 billion of 10-year...
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