Jeremy Gardiner Market Quotations

This meant potential returns from developed market currencies should improve further as funds, chasing higher yields, flowed towards them.

Flows indicate that investors are nervous, with significant flows out of equities into asset allocation and fixed income funds over the quarter. The roughly 200% run from the lows of March 2003 is being interpreted by 'the bears' as a sign that the market must be in perilous territory.