Investors Pour $56 Billion into Money Markets Ahead of Fed Decision, Pull Back from Stocks
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U.S. money market funds saw the biggest weekly inflow since March 29, totaling $56.52 billion.
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The inflows were driven by investor caution ahead of the Fed policy decision and Treasury funding announcement.
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Investors sold $110 million in equity funds, the lowest in 6 weeks, but added $8.26 billion to large-cap funds.
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Sector equity funds saw $4.08 billion in outflows, the most since June 22, led by financials, tech, and healthcare.
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U.S. bond funds had outflows for the third straight week, totaling $1.64 billion, led by investment-grade and high-yield funds.