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
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.
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