EM bond funds see largest weekly outflow in two years, JPMorgan report says
NEW YORK, Nov 8 (Reuters) -Retail investors yanked $3.2 billion out of emerging market bonds this week, the largest outflow in 109 weeks, with hard currency funds shedding $2.9 billion, JPMorgan said on Friday.
ETF outflows accelerated to $1.1 billion while non-ETF outflows shot up to $2.2 billion, the bank said in its weekly flows report.
Emerging market assets were expected to come under pressure as some of U.S. President-elect Donald Trump's announced policies could translate to a stronger dollar and a higher than anticipated neutral rate from the Federal Reserve.
Higher rates in developed markets attract cash that would otherwise be deployed in EMs.
In weekly non-resident flows to EM portfolios, local bonds saw outflows led by Hungary at $677 million and equities also saw net outflows, with $1.7 billion coming out of India.
Reporting by Rodrigo Campos, Editing by William Maclean
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