NEW YORK, Sept 19 Investors in funds based in
the United States poured $18.1 billion into stock funds in the
latest week as global markets rallied on expectations the
Federal Reserve would maintain its easy money policies, data
from Thomson Reuters' Lipper service showed on Thursday.
The inflows into stock funds over the week ended Sept. 18
were the biggest since early January.
U.S. shares surged to record highs on Wednesday, the last
day of Lipper's reporting period, after the Fed said it would
maintain the pace of its $85 billion in monthly bond purchases
and await more evidence of solid economic growth.
The Standard & Poor's 500 stock index and the Dow
Jones Industrial average hit record highs after the Fed
decision. Global equity markets also gained after former U.S.
Treasury Secretary Lawrence Summers on Sunday withdrew from
consideration to be the next Fed chairman.
The MSCI world equity index rose 1.6 percent
over the reporting period, while the S&P 500 index rose 2.2
Taxable bond funds, meanwhile, attracted $1.4 billion over
the weekly period, marking the biggest inflows into the funds in
eight weeks. Yields on benchmark 10-year U.S. Treasury notes
fell over the weekly period ahead of the Fed meeting, and
plunged 17 basis points following the decision. As yields fall,
Among all categories of taxable bond funds, riskier
high-yield junk bond funds took in $1.4 billion in the latest