US money market funds see biggest weekly inflow in 13 months
- Meanwhile, US equity funds attracted a net $5.06 billion, as stocks rallied somewhat after US Federal Reserve officials reaffirmed a dovish monetary policy stance.
- US bond funds saw net purchases of $4.82 billion, the highest in three weeks.
Investment flows into US money market funds surged to the highest in over a year in the week to May 26, on caution as investors awaited US data expected to offer clues on inflation.
Refinitiv Lipper data showed US money market funds drew in a net $66.6 billion in the week, the biggest amount since April 2020, with investors concerned about a rise in inflation levels and the impact on the direction of US monetary policy.
Meanwhile, US equity funds attracted a net $5.06 billion, as stocks rallied somewhat after US Federal Reserve officials reaffirmed a dovish monetary policy stance.
Among equities, investors purchased value funds worth $2.4 billion, while growth funds faced outflows worth $859 million.
US bond funds saw net purchases of $4.82 billion, the highest in three weeks.
Investors bought $2.35 billion in US taxable funds and $1.31 billion in municipal bond funds.
US inflation-protection funds also had an inflow of $641 million, which was their fourth successive inflow.
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