financetom
Economy
financetom
/
Economy
/
US money market funds saw significant demand before US elections
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US money market funds saw significant demand before US elections
Nov 11, 2024 6:41 PM

(Reuters) - U.S. investors moved large amounts of money to the safety of money market funds in the week to Nov. 6 as they cautiously awaited the U.S. presidential election outcome and the Federal Reserve's policy decision.

According to LSEG data, investors acquired U.S. money market funds of a net $78.68 billion during the week, registering their largest weekly net purchase since Sept. 25.

U.S. equity funds also saw about $3.96 billion worth net purchases during the week following two weeks of outflows in a row, thanks to a robust $7.27 billion worth of net inflows in the large-cap segment during the week.

U.S. mid-cap funds also witnessed $299 million worth of net purchases, but the multi-cap and small-cap segments experienced net outflows of $2.47 billion and $53 million, respectively.

Investors pumped a net $1.01 billion into the industrial sector in their largest weekly net purchase since July 17. Conversely, the financials and consumer staples sectors saw a net $420 million and $354 million worth of sales.

U.S. bond funds lured inflows for the 23rd week in a row, with investors securing a substantial $8.05 billion worth of funds on a net basis.

The short-to-intermediate investment-grade U.S. funds witnessed a sharp $3.1 billion worth of net purchases, the eighth weekly inflow in a row. General domestic taxable fixed income, and municipal debt funds also received a notable $1.92 billion and $1.26 billion, respectively.

(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Arun Koyyur)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Rises Early Friday Ahead of Light Data Schedule
US Dollar Rises Early Friday Ahead of Light Data Schedule
Jul 19, 2024
07:42 AM EDT, 07/19/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday ahead of a light data schedule leading into the weekend. State-level unemployment data for June is scheduled to be released at 10:00 am ET, followed by an update to the St. Louis Federal Reserve's gross domestic product Nowcast estimate around midday, the...
Global equity funds draw fourth weekly inflow amid rate cut bets
Global equity funds draw fourth weekly inflow amid rate cut bets
Jul 19, 2024
(Reuters) - Global equity funds attracted inflows for a fourth successive week in the seven days to July 17, spurred by expectations of a Federal Reserve rate cut after recent data showed cooling inflation, fuelling a stock market rally. According to LSEG data, investors acquired global equity funds worth a net $26.51 billion during the week, logging their biggest weekly...
Vanguard favors high-quality credit as US economy nears 'turning point'
Vanguard favors high-quality credit as US economy nears 'turning point'
Jul 19, 2024
NEW YORK (Reuters) - Top U.S. asset manager Vanguard favors high-rated corporate debt over riskier high-yield companies' bonds as it seeks protection against the possibility a sharper-than-anticipated U.S. economic downturn caused by high borrowing costs, it said in a report. After one year since the Federal Reserve last raised interest rates, investors largely expect the U.S. central bank to finally...
US equity funds attract big inflows in week to July 17
US equity funds attract big inflows in week to July 17
Jul 19, 2024
(Reuters) - U.S. equity funds attracted big inflows in the seven days to July 17, driven by expectations of a U.S. interest rate cut amid cooling consumer prices and robust corporate earnings. According to LSEG data, investors pumped $21.7 billion into U.S. equity funds during the week, the largest weekly net inflow since February 2021. Earlier this week, the S&P...
Copyright 2023-2026 - www.financetom.com All Rights Reserved