FILE PHOTO: Merchants work on the ground of the New York Inventory Alternate (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid
NEW YORK (Reuters) – U.S. buyers ended their longest shopping for streak since October by pulling cash out of home inventory mutual fund and exchange-traded funds final week on international considerations about financial progress in Europe, in line with Funding Firm Institute information launched on Wednesday.
General, U.S. buyers pulled a web $2.64 billion out of home inventory funds throughout the week ended March 6, after pumping in a web of $four billion the week earlier than.
The shift pushed whole web outflows from U.S. inventory funds to $13.5 billion over the 9 full weeks of 2019 to date, regardless of a broad market rally that has pushed the benchmark S&P 500 index up 12.three p.c for the yr thus far.
World inventory funds misplaced a web of $1.13 billion for the week. For the yr thus far, buyers have despatched a web of $8.5 billion into shares exterior of the U.S. market.
Each taxable and municipal bond funds continued to draw web inflows, of $6.05 billion mixed, for the week. That was about half of the inflows the week earlier than.
Reporting by David Randall; Modifying by Jennifer Ablan and Richard Chang