US equity funds see first weekly outflow in three weeks
SPY•US equity funds had net outflows of $5.11 billion in the week ended October 7, their first weekly net sales since September 16. Bond funds drew a record $19.78 billion, while money market funds attracted $68.49 billion.
1. Equity fund withdrawals
Investors withdrew a net $5.11 billion from US equity funds in the week ended October 7, after two consecutive weeks of inflows, as they locked in profits during a market rally. The S&P 500 reached 7,844.52 earlier in the week before easing, while the 10-year Treasury yield rose to 5.3645%, its highest level since April 2002.
2. Sector and bond flows
Large-cap funds saw $14.08 billion in outflows, mid-cap funds $1.03 billion and small-cap funds $834 million. Sector funds received $5.68 billion, including $4.53 billion for technology, while US bond funds had record inflows of $19.78 billion.
3. Cash fund inflows
Short-to-intermediate government and Treasury funds attracted $6.76 billion, their largest inflow in six months. Money market funds drew $68.49 billion, reversing $43.6 billion in outflows the previous week.
