July 2, 2020 / 7:42 PM / a month ago

U.S. stock funds shed $4.6 billion in week: Lipper

(Reuters) - The final days of the best quarter for the benchmark S&P 500 since 1998 were not enough to keep investors from pulling $4.6 billion out of U.S.-based stock funds in the week that ended Wednesday, according to Lipper data released on Thursday.

The S&P 500 500 rebounded from its stark drop in the first quarter to rally nearly 20% between April and June. The pace of gains has slowed over the last two weeks, however, as states including Florida and Texas have posted a series of new record highs for coronavirus infections. The United States posted its largest one-day spike on record on Wednesday.

For the year to date, the S&P 500 is now down 2.9% after hitting record highs in late February.

Fears of a second wave of infections helped boost taxable bond funds, which attracted $5.6 billion last week. The category has now garnered 12 straight weeks of inflows, helping push the yields of U.S. Treasuries near historic lows.

U.S. money market funds, meanwhile, lost $28 billion in the week, the seventh straight weekly outflow.

Reporting by Alden Bentley; editing by Jonathan Oatis

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below