Investors shun high yield, U.S. and emerging markets as Fed hike looms: BAML

December 11, 2015 11:45 AM

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Investors shun high yield, U.S. and emerging markets as Fed hike looms: BAML

LONDON The "Great Divide" between U.S. and euro zone monetary policy dictated financial market flows last week as investors bailed out of high-yield bonds and emerging markets, and piled into cash and European stocks, Bank of America Merrill Lynch said on Friday.

The Federal Reserve is widely expected to raise U.S. interest rates next week for the first time since June 2006, while the European Central Bank last week loosened policy further, although not as aggressively as many had expected.

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