U.S. equity funds reported net cash inflows of $2.5 billion for the week ending July 1, according to information provided to Reuters by AMG Data Services.
The figure comes in contrast with an outflow the week prior of $1.6 billion.
In addition, $197 million flowed into U.S. municipal bond funds for the week ending July 1, marking the continuation of a strong inflow trend, now lasting 11 weeks. However, in the previous week, muni bond funds took in a net $314 million. AMG attributed the slowdown in inflows to the shortened holiday week.
In addition, U.S. taxable bond funds also had net inflows of $382 million for the week ending July 1, with most of this money going to investment grade corporate-style bonds.
The area taking a severe beating due to the recent interest rate cuts and other factors is the money market fund sector. Taxable money market funds reported heavy outflows of $11.6 billion, while their tax-exempt counterparts reported inflows of $6.4 billion, AMG added.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.