Advertisement

UPDATE 1-U.S. fund investors rush into money-market funds, Treasuries -Lipper

From Reuters - September 14, 2017

NEW YORK (Reuters) - U.S. fund investors sought shelter during the latest week, pouring more than double the amount from the previous week into money markets, and stockpiling the most in safe haven Treasuries in more than a year, Lipper data showed on Thursday.

Political uncertainty has weighed on funds even if it has not tempered lofty stock prices, with several equity indexes touching record highs during the latest week. Fund investors have been unnerved by threats from North Korea, which fired a missile over Japan after testing a powerful nuclear bomb.

Cash-like money market funds pulled in $17.7 billion during the week ended Sept. 13, accelerating from $6.8 billion the previous week, while Treasury mutual funds and exchange-traded funds (ETFs) attracted $3 billion, the most since January 2016, Lipper data for U.S.-based funds showed.

One of the funds, iShares 20+ Year Treasury Bond ETF, snapped up $1.7 billion in its largest week of inflows on record.

This is serious stuff going on in Korea, said Tom Roseen, head of research services for Thomson Reuters Lipper unit. All eyes are on that right now.

Advertisement

Continue reading at Reuters »