Reported 4 months ago
U.S. equity funds experienced outflows for the first time in four weeks, totaling $7.6 billion in the seven days ended May 29, as bond yields rose and uncertainty surrounded the Federal Reserve's interest rate cuts. Financials and consumer discretionary sector funds saw net outflows of $779.8 million and $379.3 million, while industrials and tech sector funds received net inflows. U.S. bond funds also saw their first weekly outflow of the year due to inflation concerns and decreased rate cut expectations, although U.S. Treasury yields dropped on Friday after stable April inflation data reinforced the expectation of rate cuts later in the year.
Source: YAHOO