US EQUITY FUNDS SEE UPBEAT DEMAND ON RATE CUT EXPECTATIONS
NEWS Desk Global
Investors hoovered up U.S. equity funds in the week to July 3 as data indicating a softening economy and U.S. Federal Reserve Chair Jerome Powell's dovish commentary solidified rate cut expectations. U.S. equity funds secured a net $8.62 billion in inflows during the week, after witnessing about $16.2 billion worth of net purchases a week ago.
A softer reading on inflation last week, also supported investor appetite. Fed Chair Powell said on Tuesday that the U.S. is back on a "disinflationary path", reinforcing expectations about upcoming rate cuts. Investors sought large-cap funds in particular as they drew inflows of about $8.46 billion, extending net purchases into a second week.
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