Investors pulled out of bond funds for the first time in more than a year and a half, while equity funds gained ground in July, according to recent data from the
Bonds saw $10.84 billion in net outflows in the month, dipping into negative territory and falling well short of the $5.12 billion in inflows in June. The outflow comes amid rising interest rates, consistent with historic trends when rates elevate, according to ICI Senior Economist Brian Reid.
Stock equity funds took in $21.38 billion, a 3.1% increase over June, while domestic equity grabbed $19 billion in the month, up from the $18.04 billion in June. Hybrid funds showed inflows of $3.53 billion, down from the $4 billion it took in during June.
Money market funds were also on the south side of the border as they saw $9.91 in net flows exit in July. They took in $22.13 billion in June.
Earlier this month,
