NEWS Desk Global
US EQUITY FUNDS DRAW LARGEST WEEKLY INFLOW IN EIGHT WEEKS
U.S. equity funds attracted significant inflows in the seven days to May 15, fuelled by expectations of Federal Reserve rate cuts following subdued U.S. jobs data and a softer-than-anticipated inflation reading. Investors pumped a net $5.78 billion into U.S. equity funds, the most in a week since March 20.
A slowdown in U.S. consumer prices boosted market anticipation of two rate cuts by year end. However, optimism has since waned again with the most recent jobs data on Thursday reflecting a still fairly tight jobs market. U.S. large cap funds drew about $5.38 billion, the largest net weekly inflow since March 27.
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