Dec 30 Reuters Global equity funds posted net outflows for an eighth straight week in the seven days to Dec. 28 as a stronger than expected U.S. GDP reading raised worries that U.S. interest rates could stay higher for longer.

However, outflows were capped by a Commerce Department report that showed U.S. consumer spending barely rose in November, while inflation cooled further.

According to Refinitiv Lipper data, investors withdrew a net 529 million from global equity funds, although that was down from 39.1 billion the previous week.

U.S. equity funds recorded a net 5.41 billion worth of outflows but Asian and European funds attracted a net 1.66 billion and 460 million respectively.

Among equity sector funds, tech, financials and industrials saw net selling of 835 million, 468 million and 192 million respectively.

Meanwhile, a net 3.35 billion was withdrawn from bond funds, markedly lower than the 15.06 billion of outflows in the previous week.

Short and midterm bond funds experienced their 19th straight week of outflows, at 1.59 billion, while high yield bond funds lost a net 179 million.

Investors purchased lower risk money market funds worth a net 14.18 billion and parked 814 million in government bond funds in a eighth straight week of net buying.

Data for commodity funds showed precious metal funds attracting a second straight week of inflows at a net 330 million, while energy funds recorded a net outflow of 247 million as selling continued from the previous…