April 10 Reuters U.S. money market funds drew inflows for a fourth straight week on worries about an economic slowdown after data pointed to slowing production and a cooling labor market.

According to Refinitiv Lipper data, U.S. money market funds obtained a net 42.51 billion worth of inflows in the week to April 5. It was, however, the smallest weekly net purchase since March 8.

Meanwhile, U.S. bond funds saw a surge in demand as they obtained a net 8.1 billion, the biggest amount since Jan. 11.

Investors poured 2.81 billion into U.S. general domestic taxable fixed income funds and also received 2.44 billion worth of government bond funds in their eighth week of net buying in a row.

Meanwhile, U.S. equity funds recorded 10.34 billion worth of outflows, compared with net selling of 20.75 billion in the previous week.

Investors sold U.S. large, mid and smallcap equity funds of 5.14 billion, 102 million and 1.81 billion, respectively.

Among sector funds, they exited financial and healthcare funds of 1.2 billion and 694 million, respectively, but tech obtained 566 million worth of inflows.

Reporting by Gaurav Dogra and Patturaja Murugaboopathy in Bengaluru; Editing by Devika Syamnath

Source Reuters