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Flight to cash continues unabated going into final week of March
EPFR-tracked US Money Market Funds absorbed a record-setting $254 billion during the week ending March 25 as panicked investors liquidated their holdings in both Equity and Bond Funds and moved as near to cash as they could reasonably get. With the number of confirmed cases of COVID-19 exceeding 500,000 globally, redemptions from all Equity Funds hit a 68-week high while Bond Funds followed up last week’s record outflow by posting an even bigger number.