US investors sent a net of $1.5 billion into domestic equity mutual funds and exchange-traded funds last week, capping the largest two-week push into US stocks since January 2018, according to data released on Wednesday by the Investment Company Institute.
The jump into US stocks came amid one of the relatively rare down weeks for the benchmark S&P 500 index this year, which has jumped 11.4 percent since the start of January as the Federal Reserve has slowed its pace of interest rate hikes. The central bank said on Wednesday it does not anticipate additional interest rate hikes this year due in part to signs of an economic slowdown.
Overall, US investors added a net of $14.2 billion into domestic stock funds over the last two weeks, the most over a two-week span since the net $17.4 billion invested in late January 2018. Domestic stock funds have brought in a net of $715 million over the 11 full weeks of the year to date.
World stock funds, meanwhile, continued a five-week streak of shedding assets, dropping a net of $3.6 billion last week. The losses brought the net decline to $9.1 billion since the week ended on Feb. 20. For the year to date, world stock funds have brought in a net of $4.4 billion.
Bond funds overall added a net of $10.6 billion in assets last week, continuing a streak of positive inflows over every full week of 2019. Since the start of January, bond funds have garnered a net of $104.1 billion.
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