EM portfolios see foreign inflows for seventh straight month in May -IIF
Emerging markets attracted foreign portfolio inflows for a seventh straight month in May thanks to investors pouring money into bonds, but persistently high U.S. interest rates are dimming the outlook, a report from a banking trade group showed. The Institute of International Finance (IIF) said net non-resident portfolio flows into emerging markets came in at $5.5 billion in May compared to a revised $8.2 billion inflow in April, IIF data show. The gains came as inflows into fixed income, at $11.5 billion, more than offset outflows of $6.0 billion from stocks -with both China and ex-China suffering.
Reuters•