Investors pull $1 billion from U.S. Treasury funds -Lipper
(Adds byline, details, chart, quote) By James Thorne NEW YORK, Aug 2 (Reuters) - Investors withdrew $1 billion from U.S. Treasury funds, the most since April 2016, as longer-dated Treasury prices fell for the week ended Wednesday, according to Lipper data.
Fixed-income investors moved $1.2 billion into U.S. corporate investment-grade bond funds, adding to a streak of weekly inflows since March, Lipper data showed on Thursday.
Last week, U.S. Treasury yields rose in step with a jump in their Japanese counterparts as a result of news reports that the Bank of Japan would consider easing control of long-term bond yields as a part of the broader plan to support its economy.
Within U.S.-based equity funds, investors added over $2 billion for the week, the most since May. The inflows stem from exchange-traded funds (ETFs), which took in more than $5.9 billion, while U.S. equity mutual funds posted outflows of more than $3.8 billion, according to Lipper data.
The technology sector attracted $520 million of inflows, despite some high-profile earnings misses from companies such as Facebook and Intel that weighed on the tech-heavy Nasdaq.
"I don't think anyone expected that out of Facebook," said Pat Keon, senior research analyst at Thomson Reuters Lipper.
"But at least for now the impact from flows is muted." The following is a breakdown of the flows for the week, including mutual funds and ETFs: Sector Flow Chg % Assets Assets Count ($Bil) ($Bil) All Equity Funds 2.073 0.03 7,510.540 12,343 Domestic Equities 2.846 0.05 5,276.358 8,771 Non-Domestic Equities -0.773 -0.03 2,234.183 3,572 All Taxable Bond Funds -1.646 -0.06 2,799.266 6,104 All Money Market Funds 0.344 0.01 2,718.349 1,036 All Municipal Bond -0.368 -0.08 437.485 1,466 Funds (Reporting by James Thorne, Editing by Rosalba O'Brien and Tom Brown)
