Taxable bond funds experienced net outflows for the first time in 11 weeks during the week ending July 3, according to AMG Data Services of Arcata, Calif. Most of the $163 million in outflows came from high quality corporate bond funds.
Junk bond funds, however, saw inflows for the first time in a month, bringing in $159 million, according to AMG. For the previous three weeks, $914 million had flowed out of junk bond funds.
Equity funds experienced net inflows of $1.9 billion, 63% of which came from the domestic growth and value sectors, according to AMG. About $677 million flowed into international equity funds.
Money market fund assets decreased over $6 billion to under $2.1 trillion for the week ending July 3, according to the Investment Company Institute. While retail money funds increased by $4.84 billion, institutional funds dropped $10.87 billion.