U.S. investors ramped up purchases of equity funds in the week to April 8, as hopes for a two-week Middle East ceasefire boosted expectations for a reopening of the Strait of Hormuz to oil and gas flows.
Investors acquired U.S. equity funds worth a net $9.76 billion, roughly 80% more than the prior week's $5.42 billion purchases, LSEG Lipper data showed.
Investors bought sectoral funds totaling $2.84 billion, booking the first weekly net inflow in three weeks. They added tech, industrial and utility sector funds of $2.43 billion, $994 million and $494 million, respectively, on a net basis.
Bond funds drew $9.6 billion in inflows, broadly reversing $10.14 billion outflows the week before.
Short-to-intermediate government and Treasury funds gained a hefty $7.28 billion, compared with $366 million net purchases a week ago. Investors also bought municipal debt funds and inflation-protected funds of $866 million and $709 million, respectively.
Money market funds, meanwhile, received a gross $9.7 billion, with inflows extending into a second successive week.
