U.S. stock funds post second straight weekly outflow

FILE PHOTO: Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 6, 2019. REUTERS/Brendan McDermid/File Photo

October 3, 2019

(Reuters) – U.S. equity funds saw $7.9 billion in outflows in the last week, the second consecutive weekly drawdown, as bond and money market funds drew money, according to data released by Lipper on Thursday.

U.S.-based taxable bond funds attracted $641 million, the eighth straight week of inflows, while $7.4 billion moved into money market funds in the week through Wednesday, the Lipper data showed.

(Reporting by Alden Bentley; Editing by Chris Reese)