Dec 16 Reuters Global equity funds attracted their first inflow in six weeks in the week ended Dec. 14, with investors optimistic that easing inflation levels would prompt central banks to scale back the pace of interest rate hikes.

Still, the Federal Reserve raised its benchmark rate by half a percentage point on Wednesday and said it would deliver more rate hikes next year.

According to Refinitiv Lipper data, investors poured a net 1.01 billion into global equity funds in their first weekly net buying since Nov. 2.

U.S. and Asian equity funds drew a net 3.4 billion and 500 million, respectively, in inflows, but investors exited European funds to the tune of about 2.14 billion.

Among equity sector funds, financials, consumer staples, and materials saw net purchases of 559 million, 292 million and 212 million, respectively, but tech witnessed a net outflow of 839 million.

Investors withdrew about 1.53 billion net from global bond funds after a net purchase of 4.96 billion last week.

Short and midterm bond funds recorded a 17th straight week of net selling, worth 1.54 billion, but highyield and government bond funds received net inflows amounting to 4.24 billion and 1.92 billion, respectively.

Money market funds saw a net 12.95 billion outflow after three straight weeks of net purchases.

Data for commodity funds showed energy funds gained about 190 million in an eighth week of net buying but precious metal funds posted a ninth consecutive week of net selling, with…