(Reuters) - Global equity funds experienced strong demand for the third consecutive week, in the seven days to May 15, bolstered by a softer U.S. jobs report and lower-than-expected inflation figures, which increased expectations that the Federal Reserve may begin cutting rates this year.

Investors purchased a net $10.27 billion worth of global equity funds during the week after about $12.54 billion worth of net purchases a week ago, data from LSEG revealed.

Wednesday's data showing a cooling in U.S. consumer prices led markets to quickly anticipate at least two rate cuts this year. However, the enthusiasm diminished later as a recent report indicated a still-tight labor market, and central bankers remained cautious about inflation.

U.S. equity funds secured a substantial $5.78 billion, the largest weekly inflow in eight weeks. European and Asian funds, meanwhile, drew $3.22 billion and $1.37 billion, respectively, in inflows.

Among sectoral funds, the industrial sector accumulated about $732 million, the largest weekly inflow in seven weeks.

Financials and utilities also added $412 million and $348 million, respectively, while tech witnessed a second weekly outflow, worth about $755 million.

At the same time, global bond funds received about $5.58 billion worth of inflows, compared with about $13.41 worth of net purchases in the prior week.

By segment, government bond funds led the way as investors poured about $1.78 billion, the highest in seven weeks. High-yield funds also lured $1.26 billion in inflows, while dollar-denominated medium-term bond funds faced outflows of about $986 million.

Simultaneously, money market funds saw a net $20.42 billion worth of outgo, the first in three weeks.

Among commodities, precious metal funds gained $234 million, their first weekly inflow in three. In contrast, energy funds faced about $74 million worth of net selling.

Data covering 29,558 emerging market funds showed a robust $1.53 billion worth of net purchase in equities, the largest for a week since Dec. 27. Bond funds also attracted about $134 million, snapping a four-week-long selling streak.