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Cash remains king as global economy limps into the second quarter
Investors pumped another $194 billion into EPFR-tracked Money Market Funds during the final week of a first quarter that saw large swathes of the world locked down to prevent the spread of the COVID-19 virus, the price of oil fall 65%, the S & P 500 index fall 33% from its peak to its trough on March 23 and over six million Americans file for unemployment in a single week. While Money Market Funds absorbed record setting inflows, Equity Funds saw over $50 billion flow out during the quarter and Bond Funds set weekly and monthly outflow records on their way to their biggest quarterly outflow since 3Q13.