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Refinitiv Lipper data showed U.S. bond funds had another strong
week of buying from investors as they obtained a net $5.83
billion worth of inflows.
The benchmark 10-year U.S. Treasury yield hit a four-month low
of 3.368% this week on signs of slowing inflation after data
last week showed consumer prices dropped for the first time in
more than 2-1/2 years.
Investors bought U.S. taxable bond funds worth $4.57 billion and
municipal bond funds worth $1.28 billion.
They purchased emerging markets debt and mortgage debt funds
worth about $1.5 billion each.
Meanwhile, U.S. equity funds recorded a ninth successive week of
net selling, with investors exiting a net $3.13 billion worth of
funds.
Investors jettisoned $4.03 billion worth of U.S. growth funds in
a ninth consecutive week of net selling, while shunning off $670
billion worth of value funds.
However, some sectoral funds observed investor demand, with
consumer discretionary, metals & mining, and communication
services drawing $289 million, $269 million and $123 million
worth of inflows.
Investors also withdrew $10.99 billion out of money market
funds, posting a second weekly net selling in a row.
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; Editing by Kim Coghill)
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