Dollar Most Oversold in 40 Years, Says Morgan Stanley; Exits Short Position… Investors Load Up on Cash, Gold in Flight From Stocks: BofA

Dollar Most Oversold in 40 Years, Says Morgan Stanley; Exits Short Position

The dollar is at its most oversold level in over 40 years, investment bank Morgan Stanley said on Friday, adding it had now shifted from its dollar-bearish stance and turned “tactically neutral” on the U.S. currency.

 

Investors Load Up on Cash, Gold in Flight From Stocks: BofA

Investors flocked to cash, gold and investment-grade bonds, BofA’s fund flow statistics showed on Friday, as the United States awaited approval from Congress for further stimulus.

 

End of QE, Week 8: Fed’s Assets Fall by -$4 Billion for the Week, Down -$224 Billion Since June 10

The Fed is funding consumption circuitously via Treasuries and government stimulus spending, shifting impact from asset prices to consumer prices.