So did the fear that caused the sell-off in risk assets ALSO cause the flight to money markets (and the subsequent ease of fear that caused the reversal to occur) OR did the flows from money markets itself cause the rally?
Source: BarCap / ICI
Risk Assets vs. Money Market Flows...
I must say the below chart is interesting, but as we all know "correlation does not imply causation"...
So did the fear that caused the sell-off in risk assets ALSO cause the flight to money markets (and the subsequent ease of fear that caused the reversal to occur) OR did the flows from money markets itself cause the rally?
Source: BarCap / ICI
So did the fear that caused the sell-off in risk assets ALSO cause the flight to money markets (and the subsequent ease of fear that caused the reversal to occur) OR did the flows from money markets itself cause the rally?
Source: BarCap / ICI
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