Oct 9 (Reuters) – US equity funds recorded outflows in the week ended October 7, following two consecutive weeks of inflows, as investors locked in profits during a market rally amid concerns over rising Treasury yields and persistently high crude oil prices.
Investors withdrew a net $5.11 billion from US equity funds during the week in their first weekly net sales since September 16, LSEG Lipper data showed.
The S&P 500 hit a record high of 7,844.52 earlier this week but later eased, as a bond market rout pushed the 10-year Treasury yield to its highest level since April 2002, 5.3645%, amid inflation concerns, weighing on sentiment.
US large-cap, mid-cap, and small-cap funds recorded net outflows of $14.08 billion, $1.03 billion, and $834 million, respectively.
Investors, however, made net investments of $5.68 billion in sectoral funds, led by technology, which attracted $4.53 billion. Utilities and industrials drew $1.18 billion and $1.04 billion, respectively.
US bond funds recorded a weekly record of $19.78 billion in inflows.
Investors poured $6.76 billion into short-to-intermediate government and Treasury funds, the largest amount in six months. Short-to-intermediate investment-grade funds and general domestic taxable fixed-income funds also saw net purchases of $5.04 billion and $2.52 billion, respectively.
Meanwhile, money market funds attracted $68.49 billion, reversing the previous week’s $43.6 billion in outflows.
(Reporting by Gaurav Dogra; Editing by Leroy Leo)
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