U.S. Weekly FundFlows Insight Report: Conventional Funds And ETFs Attract $3.8 Billion Of Net Inflows For The Week

Investors were overall net purchasers of fund assets (including those of conventional funds and ETFs) for the sixth week in seven, injecting a net $3.8 billion for Refinitiv Lipper’s fund-flows week ended September 8, 2021. Fund investors were net purchasers of taxable bond funds (+$6.0 billion), tax-exempt fixed-income funds (+$1.1 billion), and equity funds (+$1.1 billion) while being net redeemers of money market funds (-$4.4 billion) for the week.

Market Wrap-Up

After the release of a disappointing nonfarm payrolls report over the Labor Day shortened trading week, U.S. broad-based indices struggled during the fund-flows week. Despite the S&P 500 and the NASDAQ booking fresh closing highs at the beginning of the flows week, concerns about the COVID-19 delta variant, inflation, Fed tapering, government spending, taxes, and the federal budget pressured U.S. markets.

On the domestic side of the equation, the NASDAQ Composite Price Only Index (-0.15%) did the best job mitigating losses of the broadly followed U.S. indices for the fund-flows week as some investors continued to bid up mega-cap technology stocks. It was followed by the S&P 500 Price Only Index (-0.22%). The Dow Jones Industrial Average Price Only Index (-0.80%) witnessed the largest declines for the week. Overseas, the Nikkei 255 Price Only Index (+5.76%) witnessed the strongest plus-side returns of the often-followed broad-based international indices after Japan’s Prime Minister Yoshihide Suga, whose government has come under pressure due to its handling of the pandemic, said he will resign before this year’s national elections. The Xetra DAX Total Return Index (-1.70%) was the subgroup laggard.

On Thursday, September 2, 2021, the Nasdaq and S&P 500 ended in record territory for the day after the prior week’s first-time jobless claims declined by 14,000 to 340,000, showing a minor improvement ahead of the nonfarm payrolls report. In other economic news, July U.S. factory orders rose 0.4% outpacing analysts’ expectations of 0.3% as manufacturers increased efforts to meet the latest demand spike. For Q2, U.S. productivity was also on the rise at a revised 2.1% annual pace, slightly behind the 2.3% rise reported earlier. Near-month oil futures rose 1.4% on the day to close at $69.99/barrel (bbl).

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