Global equity funds see biggest inflows in three weeks - Lipper
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
FILE PHOTO: Pedestrians and a traffic light stop sign are reflected on a quotation board in Tokyo, Japan February 26, 2021. REUTERS/Kim Kyung-Hoon/File Photo
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Reuters) - Investment flows into global equity funds jumped to the highest in three weeks in the week ended June 16, as investors shrugged off inflation worries and focused on the improving global economic outlook.
Global equity funds received a net $10.3 billion in the week ended June 16, compared with about $13 billion outflows in the previous week, data from Refinitiv Lipper showed.
European equity funds led inflows, luring $8.6 billion, while U.S. equity funds and Asian equity funds had net purchases worth $0.4 billion and $1.2 billion, respectively.
(Graphic: Fund flows into global equities bonds and money markets - https://fingfx.thomsonreuters.com/gfx/mkt/ygdvzxoqovw/Fund%20flows%20into%20global%20equities%20bonds%20and%20money%20markets.jpg)
Global equities hit fresh peaks earlier this week on investor bets that higher inflation levels are transitory, and on optimism about broadening economic recovery from the pandemic.
However, the MSCI world equity index has dropped since Wednesday, as U.S. Federal Reserve officials projected interest rate hikes sooner than expected.
The Lipper data showed global bond funds had a net buying of $9 billion in the week ended June 16, although the inflows were the smallest in three weeks.
Global high-yield bonds witnessed net selling of $1.43 billion, the biggest in four weeks. However, inflation-linked bonds continued to lure money flows for the seventh successive week.
(Graphic: Global fund flows into equity sectors - https://fingfx.thomsonreuters.com/gfx/mkt/gjnvwmnymvw/Global%20fund%20flows%20into%20equity%20sectors.jpg)
Meanwhile, global money market funds faced outflows worth $56.6 billion, the highest since December 2020.
Among commodity funds, precious metal funds had some meagre inflows, while energy funds continued to witness outflows for the third consecutive week.
Gold was set to register its worst week in almost nine months, shedding about 4.5% so far, jolted by a rise in U.S. Treasury yields since the Fed's hawkish tilt on Wednesday.
(Graphic: Global bond funds flows in the week ended June 16 - https://fingfx.thomsonreuters.com/gfx/mkt/oakvebkagpr/GLobal%20bond%20funds%20flows%20in%20the%20week%20ended%20June%2016.jpg)
An analysis of 23,712 emerging-market funds showed bond funds had inflows worth $1.27 billion after marginal outflows in the previous week, while equity funds attracted $184 million, the third straight week of inflows.
(Graphic: Fund flows into EM equities and bonds - https://fingfx.thomsonreuters.com/gfx/mkt/azgpoogbqpd/Fund%20flows%20into%20EM%20equities%20and%20bonds.jpg)
(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Ramakrishnan M.)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SPDR S&P 500 ETF Trust (SPY) option IV low into Fed Meeting and Jackson Hole
- U.S. stock markets hit new highs, Treasury yields up as choppy week ends
- Markit U.S. Manf. PMI (Jul P) 63.1 vs 62 Expected
Create E-mail Alert Related CategoriesReuters, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!