June 4, 2020 / 8:11 PM / a month ago

US bond funds see near record weekly inflow as money market funds drain

June 4 (Reuters) - U.S. equity mutual funds saw outflows of $1.6 billion in the latest week, according to Lipper, even as Wall Street indexes rose back towards record highs on growing confidence the worst impact from COVID-19 economic shutdowns was over.

Taxable bond funds attracted $12.9 billion in the week to Wednesday, the eighth straight weekly inflow and exceeded only by $13.7 billion that flooded in the week ended Feb. 4, 2015, Lipper data showed.

At the same time money market funds shed $30.5 billion, which was the largest weekly outflow since May 2002. (Reporting by Alden Bentley Editing by Chris Reese)

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