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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

US investors extend equity fund sell-off amid rising bond yields

Traders work on the floor as screens display the logo for Chevron Corp. and Hess Corp. at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. REUTERS/Brendan McDermid/File Photo
Traders work on the floor as screens display the logo for Chevron Corp. and Hess Corp. at the New Yo... Traders work on the floor as screens display the logo for Chevron Corp. and Hess Corp. at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. REUTERS/Brendan McDermid/File Photo
Traders work on the floor as screens display the logo for Chevron Corp. and Hess Corp. at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. REUTERS/Brendan McDermid/File Photo
Traders work on the floor as screens display the logo for Chevron Corp. and Hess Corp. at the New Yo... Traders work on the floor as screens display the logo for Chevron Corp. and Hess Corp. at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. REUTERS/Brendan McDermid/File Photo

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In the week leading up to October 25, American investors continued to be net sellers of stock funds due to rising bond rates and worries about the situation between Israel and Hamas.

Investors sold $2.69 billion worth of U.S. stock funds during the week, marking their sixth straight week of net selling, according to LSEG data.

Expectations of solid growth and a widening budget deficit propelled the yield on U.S. 10-year Treasury notes to a 16-year high earlier this week, breaking the 5% barrier. Fund categories: $2.52 billion, $1.35 billion, and $202 million were taken from U.S. multi-cap, mid-cap, and small-cap funds, respectively. In contrast, $3.41 billion in inflows were seen in large-cap funds, the most in six weeks.

Investors withdrew $841 million, $511 million, and $313 million from their exposure to funds in the financial, healthcare, and consumer discretionary sectors, respectively. However, they did provide $823 million to the I.T. industry.

Investors sold $719 million worth of U.S. bond funds in the meantime, a substantial drop from the $3.55 billion net selling the week before.

The net selling of inflation-protected funds and short/intermediate investment-grade funds was $1.02 million and $1.96 billion, respectively. In contrast, government bond funds saw a noteworthy $4.47 billion in purchases, a significant rise above the $929 million in net purchases from the week before. In contrast to the previous two weeks of withdrawals, money market funds had $22.7 billion in inflows during the same period.


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