March 21, 2019 / 8:23 PM / 3 months ago

UPDATE 1-U.S.-based equity, taxable bond funds post second consecutive week of inflows

 (Adds quote, table)
    By Jennifer Ablan
    March 21 (Reuters) - U.S.-based equity funds attracted over
$3.6 billion in the week ended on Wednesday, their second
straight week of inflows, according to data from Refinitiv's
Lipper research service on Thursday, thanks to the Federal
Reserve's dovish stance on interest rates and optimism about a
U.S-China trade deal.
    Investors also piled into U.S.-based taxable bond funds. For
a second consecutive week, they poured roughly $6.6 billion into
the funds, with the bulk of the assets in higher-quality debt
    U.S.-based investment-grade corporate bond funds attracted
over $5.1 billion in the week, extending their weekly inflow
streak since January, according to Lipper data. 
    Investors' appetite for risk-taking came in the wake of the
Fed and continued U.S.-China trade talks.
    Tom Roseen, head of research services at Lipper, said a
pledge from Chinese Premier Li Keqiang to keep in place strong
stimulus measures, as well as a commitment to striking a trade
deal, pushed the S&P 500 and NASDAQ to the strongest close in
five months on Thursday.
    "This, along with investors applauding the Federal Open
Market Committee’s decision to keep rates unchanged and
confirming its cautious approach to future interest rate hikes,
were all key factors in keeping weekly flows and returns
positive," he said.
    The following is a breakdown of the flows for the week,
including mutual funds and ETFs:
 Sector                Flow Chg   % Assets  Assets        Count
                       ($Bil)               ($Bil)        
 All Equity Funds      3.601      0.05      7,287.937     12,106
 Domestic Equities     3.595      0.07      5,171.880     8,583
 Non-Domestic          0.006      0.00      2,116.058     3,523
 All Taxable Bond      6.576      0.23      2,846.215     5,961
 All Money Market      -35.694    -1.23     2,863.326     1,011
 All Municipal Bond    1.425      0.32      449.072       1,412
 (Reporting by Jennifer Ablan; Editing by Susan Thomas and Dan
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