(Reuters) – Global money market funds attracted inflows for the fifth straight week in the seven days to May 30 Time is running out for talks on raising the US debt ceiling as investors cautiously buy safer assets.
Global money market funds received about $
according to Refinitiv Lipper data. 76 Billion inflows are the largest in three weeks.
US Money Market Fund Receives $39 .85 billions of dollars inflows but investors dumped $174 in European and Asian funds.76 billion and about $30 hundred Wan, respectively.
US President Joe Biden and Congressional Republican leader Kevin McCarthy are close to a deal to boost the government’s $31. The $4 trillion debt ceiling is for two years, a U.S. official told Reuters, but time is running out.
The US Treasury estimates it will run out of money within a week, legislation for any deal would address that.
Meanwhile, global equity funds face $4. 100 million net sales, the sixth consecutive week of outflows.
Investors sold funds in the healthcare, industrials and energy sectors for $388 million, $183 million and $ 174 million, but consumer discretionary attracted value 388 Millions of dollars of capital inflows.
Meanwhile, global bond funds bought a net $6.89 this week, the first since April 5 Largest weekly inflow.
Global government bond funds had inflows for the fifth straight week, worth $3.89 , while high-yield bond funds Received $472 million worth of inflows, the first weekly net buying in four weeks.
Among commodity funds, investors bought $388 worth of $388 million dollars for the fifth week in a row precious metals fund, but exited an energy fund worth $174 million dollars.
The data is 23, 831 Emerging Market Funds shows that equity funds posted their first weekly net selloff in 4 weeks, losing $831 billion, while bond funds posted fifth consecutive weekly outflows worth $ million.