April 10, 2019 / 6:25 PM / 14 days ago

Investors stage largest 2-week retreat from U.S. stocks since July

    By David Randall
    NEW YORK, April 10 (Reuters) - Investors pulled nearly net
$7.5 billion out of mutual funds and exchange-traded funds that
hold U.S. stocks last week, capping the largest two-week retreat
from the domestic stock market since July 2018, according to
data released on Wednesday by the Investment Company Institute. 
    The move away from the U.S. stock market came as the
benchmark S&P 500 index finished its strongest first quarter of
the year since 1998, according to Refinitiv data. For the year
to date, the S&P 500 is up nearly 15.5% thanks to a combination
of optimism for a trade breakthrough between the United States
and China and the Federal Reserve's decision to pause its series
of interest rate hikes. 
    Despite that rally, investors have pulled a net of
approximately $17.6 billion in assets out of U.S. stock funds
over the 13 full weeks of this year, according to ICI data. 
    World stock funds, meanwhile, lost a net $31 million in
assets, continuing a seven-week pullback on the part of
investors. For the year to date, world stock funds have garnered
approximately $4.2 billion in net inflows. 
    Bond funds brought in about net $11.3 billion last week,
continuing a streak of positive inflows that has lasted over
each full week of the year. 
    
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):  
                      4/3/19  3/27/19  3/20/19   3/13/19  3/6/19
                                                          
 Equity               -7,496  -11,085    -2,145   12,310  -3,742
           Domestic   -7,465  -10,896     1,474   12,827  -2,644
           World         -31     -190    -3,619     -517  -1,099
 Hybrid               -3,575     -199      -636   -1,420  -1,267
 Bond                 11,275    7,884    10,544   11,322   6,050
           Taxable     9,783    5,528     8,655    8,807   3,987
           Munis       1,492    2,356     1,889    2,515   2,064
 Commodity              -983      141       393      207  -1,152
 Total                  -778   -3,259     8,155   22,419    -111
 
 (Reporting by David Randall; Editing by Jennifer Ablan and
Cynthia Osterman)
  
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