in

Global equity funds see first weekly outflow in four weeks

According to Refinitiv Lipper data, global equity funds observed a net $2.67 billion worth of net selling in the week ended July 19, booking their first weekly outflow since June 21.

China’s economy grew at a frail pace in the second quarter, pointing to overall momentum faltering rapidly due to weakening demand at home and abroad.

Additionally, expectations of rate hikes strengthened following a report from the U.S. Commerce Department indicating strong core retail consumption.

Investors withdrew $3.04 billion from U.S. equity funds while purchasing Asian and European equity funds to the tune of $609 million and $336 million, respectively.

Sectoral equity funds attracted collective inflows of about $1.78 billion, with investors piling up tech, financial and industrial sector funds of $1.05 billion, $904 million and $793 million, respectively.

Meanwhile, global bond funds saw $5.29 billion worth of net purchases as inflows extended into a fourth successive week.

Global high-yield bond funds received a net $2.97 billion, the biggest amount since April 5. Government and corporate bond funds attracted $627 million and $724 million worth of inflows, respectively.

Investors also purchased money-market funds of about $2.86 billion, after a net $28.8 billion worth of selling in the previous week.

Data for commodity funds showed that investors exited $295 million worth of precious metal funds in the eighth straight week of net selling. They also sold energy funds worth a marginal $2 million.

Meanwhile, data for 24,134 emerging market funds showed equity funds received $1.1 billion, the biggest weekly inflow since May 3, while bond funds obtained about $568 million, marking a third straight weekly inflow.


Source: Economy - investing.com

Amazon to build $120 million facility in Florida to prep Kuiper internet satellites for launch

Less than 5% of U.S. housing supply is accessible to older, disabled Americans. These changes may help