U.S. equity funds recorded a second weekly outflow in nine weeks, as investors locked in profits amid rising inflation and higher borrowing costs.
According to LSEG Lipper data, investors sold a net $12.05 billion of U.S. equity funds, the largest weekly net sales since mid-March.
The 30-year Treasury yield hit 5.201%, a level last seen in 2007, fueling concerns over growth sectors and corporate margins.
By segment, large-cap funds saw $7.18 billion outflows, mid-cap $1.86 billion, and small-cap $555 million.
Technology sector funds attracted $2.57 billion for a seventh straight weekly inflow. Industrial and financial sectors had outflows of $1.45 billion and $1.32 billion, respectively.
U.S. bond funds drew $12.5 billion, similar to the prior week's $12.83 billion.
Short-to-intermediate investment-grade, government, and municipal bond funds saw purchases of $4.63 billion, $4.43 billion, and $1.53 billion, respectively.
Money market funds attracted $12.04 billion, reversing the prior week's outflow.
