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Central banks have been buying $2.4 billion in assets every hour for the past two months
Central banks have been buying $2.4 billion in assets every hour for the past two months
According to data from Bank of America, central banks around the world have been buying almost $2.4 billion in financial assets every hour for the past two months.
BofA’s weekly Flow Show reveals that central banks have purchased around $4 trillion in financial assets, including government and agency bonds , corporate bonds, and mortgage debt.
The support from central banks is potentially be fueling heat for securities markets. Some $17.8 billion has been poured into bond markets over the past week, the biggest move in more than three months. Around $3.5 billion has been invested into gold, the second largest on record.
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The investment seeks liquidity and safety of principal; current income as a secondary objective.
Under normal circumstances, the fund invests at least 80% of its assets in Direct U.S. Treasury Obligations and repurchase agreements collateralized by these Obligations. "Direct U.S. Treasury Obligations" include U.S. Treasury bills, bonds and notes and other securities issued by the U.S. Treasury, as well as Separately Traded Registered Interest and Principal Securities (STRIPS) and other zero-coupon securities. GMO normally seeks to maintain an estimated interest rate duration of one year or less for the fund's portfolio.
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