AMERICA FIRST:

Investors around the globe are pouring money into U.S. financial assets, a sign of confidence that the world's largest economy remains poised to pull through the Covid-19 pandemic better than many others.

Investors world-wide have funneled more than $900 billion into U.S.-domiciled mutual and exchange-traded funds, on a net basis, during the first half of the year, according to data compiled by Refinitiv Lipper. That is a record in data going back to 1992 and is more than investors have put into funds elsewhere around the world combined during the first two quarters of 2021.

The inflows underpin a rally that has carried U.S. stocks to records, ahead of major indexes in Europe or Asia. The S&P 500 has climbed over 17% in 2021 to fresh all-time highs, while Germany's DAX has risen 14%, the Shanghai Composite has added 2.2% and Japan's Nikkei Stock Average remains little changed.

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