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Cash flows accelerate into U.S.-based bond funds -ICI
2017年9月20日 / 下午5点07分 / 3 个月前

Cash flows accelerate into U.S.-based bond funds -ICI

    By Trevor Hunnicutt
    NEW YORK, Sept 20 (Reuters) - A tide of cash swept into
U.S.-based taxable-bond funds for a 41st straight week, with
inflows for the funds swelling to $8.7 billion, from $5.9
billion the week prior, Investment Company Institute (ICI) data
showed on Wednesday.
    U.S. fund investors continue to favor debt over equity as
the Federal Reserve has sketched out plans to shift from the
ultra-easy monetary policy it adopted during the 2007-2009
global financial crisis. The U.S. central bank is widely
expected to announce plans to pare its own bond holdings on 
    Municipal bond mutual funds and exchange-traded funds (ETFs)
pulled in $908 million in the week ended Sept. 13, up from $527
million the week prior, according to the trade group's data.
Overall, investors handed $9.6 billion to U.S.-based bond funds,
the most since July.
    "Fed policy is likely to affect all risky assets, not just
bonds or Treasuries," said Matthew Forester, chief investment
officer for Lockwood Advisors Inc, a part of the Bank of New
York Mellon Corp.
    "Investor appetites for risk reflect serious concerns about
fiscal policy, geopolitical and political stability. Also,
perhaps most importantly, money is fungible. If other global
central banks are still pursuing loose policy while the Fed
tightens, that will still provide support to U.S. and global
    Stock fund flows showed $5 billion of inflows, from $231
million in outflows the week prior, as cash ebbed back into the
domestic equity market.
    Those domestic funds pulled in $2.1 billion, adding only a
3rd week of inflows in the last 10 weeks, ICI said. Many equity
indexes are perched at or near record highs.
    World stock funds attracted $2.9 billion, according to ICI,
advancing an inflow streak that is unbroken this year.
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
               9/13     9/6    8/30    8/23  8/16/2017
 Equity       5,003    -231   8,191  -1,808     -9,170
 -Domestic    2,096  -2,937   3,684  -4,687    -11,276
 -World       2,907   2,706   4,507   2,880      2,106
 Hybrid        -903  -1,184    -928  -1,066     -1,771
 Bond         9,583   6,453   5,354   5,314      4,829
 -Taxable     8,674   5,926   4,601   4,074      3,822
 -Municipal     908     527     753   1,240      1,007
 Commodity      125     980     982     604        881
 Total       13,808   6,018  13,599   3,045     -5,230
 (Reporting by Trevor Hunnicutt; Editing by Nick Zieminski)

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