November 11, 2022
By : Quick Insurance Guru
U.S. equity funds saw money outflows for the first time in four weeks in the week to Nov. 9, as investors braced for the midterm elections and the release of a report on U.S.
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According to Refinitiv Lipper data, investors withdrew a net $10.52 billion from U.S. equity funds in their first weekly net selling since Oct. 12.
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Investors withdrew U.S. large-cap funds worth $7.28 billion, the most in eight weeks, while exiting small- and mid-cap equity funds worth about $270 million each.
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Among sector funds, tech recorded outflows of $1.52 billion, the highest in 11 weeks, although financials and health care received $441 million and $337 million respectively in inflows.
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U.S. stocks rallied on Thursday after U.S. consumer prices rose less than expected in October, pushing the annual increase below 8% for the first time in eight months.
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U.S. municipal bond funds had $2.67 billion worth of net selling, the biggest outflow in three weeks, although U.S. taxable bond funds received a marginal $43 million in net buying.
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At the same time, money market funds witnessed net selling worth $15.09 billion, after having obtained $47.86 billion in inflows in the previous week.
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