U.S.-based high-yield junk bond funds post largest weekly outflow since October

(Reuters) – U.S.-based high-yield junk bond funds posted more than $4 billion of outflows in the week ended Wednesday, the largest weekly cash withdrawals since October 2018, according to Refinitiv’s Lipper data, triggered by an escalating trade war between China and the United States. Investors scrambled into safer U.S.-based money-market funds, which attracted $64.66 billion […]

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Manulife profit beats on strength in Asia unit

(Reuters) – Canada’s largest insurer insurer Manulife Financial Corp on Wednesday edged past estimates for second-quarter profit, helped by strength in Asia unit, its biggest. Insurers in Canada have been increasingly pivoting toward Asia for growth, looking to sell to the region’s middle class as domestic markets face stiff competition. The company’s Asia unit reported […]

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