U.S. inventory funds lose inflows as inventory rally continues

FILE PHOTO: Merchants work on the ground of the New York Inventory Trade (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid

NEW YORK (Reuters) – U.S. traders 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.

Total, U.S. traders pulled a internet $2.64 billion out of home inventory funds throughout the week ended March 6, after pumping in a internet of $four billion the week earlier than.

The shift pushed whole internet 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 % for the yr to this point.

World inventory funds misplaced a internet of $1.13 billion for the week. For the yr to this point, traders have despatched a internet of $8.5 billion into shares outdoors of the U.S. market.

Each taxable and municipal bond funds continued to draw internet 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

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