Australians have rushed to park their wealth in cash funds as they wait for the smoke to clear from the Iran war and the impact that a skyrocketing oil price will have on the global economic outlook.
Since the US and Israel first launched missile strikes on Iran just over a week ago, more than $55 million – or about 7 per cent of all local exchange-traded fund flows – had poured into cash, money markets and fixed income ETFs by Tuesday, according to BetaShares.
