May 22 (Reuters) - Global equity funds recorded the

first weekly outflow in nine weeks in the week through May 20,

as investors turned cautious over inflation and a rise in

long-term borrowing costs to nearly two-decade highs.

According to LSEG Lipper data, investors liquidated a net $6.13

billion of global equity funds during the week, logging their

first weekly net sales since mid-March, when they had withdrawn

a net $21.87 billion.

The 30-year U.S. Treasury yield climbed to 5.201% on

Wednesday, its highest since 2007, as uncertainty around a

possible resolution to the Middle East conflict raised concerns

over energy prices and inflation. It last traded at 5.0795%.

U.S. equity funds suffered the second weekly outflow in three

weeks, to the tune of $12.05 billion. Asian funds also recorded

net outflows of $570 million, though European funds attracted a

net $4.62 billion in inflows.

Technology sector funds were popular for a seventh successive

week, with net inflows of $6.94 billion. Financials and

industrials, however, had weekly outflows of $2.8 billion and

$1.3 billion, respectively.

Investors, meanwhile, bought a net $21.89 billion of global

bond funds as they extended the recent buying streak into a

seventh successive week.

Short-term bond funds, government bond funds and

euro-denominated bond funds witnessed significant weekly net

purchases of $7.47 billion, $3.09 billion and $1.68 billion,

respectively.

Money market funds recorded a lighter $1.06 billion weekly net

inflow, after a net outflow of $10.41 billion the prior week.

Gold and precious metals commodity funds saw a net $2.34 billion

of weekly inflows, remaining popular for a second straight week.

In emerging markets, investors shed a net $2.95 billion of

equity funds, resulting in a fourth straight week of outflows.

They also withdrew $256 million from bond funds after a run of

six weekly purchases, combined data for 28,926 funds showed.