Global equity fund inflows hit three-week high at $22B before sharp selloff

Global equity funds pulled in $22.01 billion in net inflows during the week ending August 19, the largest weekly haul since July 29, according to LSEG Lipper data. By the end of the same week, global stocks were staring down their steepest decline since mid-July. Where the money went US equity funds did the heavy lifting, attracting $11.72 billion of the total, their strongest showing since late July. European funds brought in $4.70 billion, while Asian equity funds added $2.96 billion. Technology funds attracted $1.55 billion, a notable rebound after prior weeks of outflows. Gold and precious metals funds pulled in $536 million. Financial sector funds saw $1.59 billion walk out the door. Earnings told one story, macro told another Roughly 90% of MSCI World companies had reported second-quarter results by that point, and combined net income jumped 39.7% year-over-year. The late-week selloff was driven by rising government bond yields, climbing oil prices, and renewed inflation concerns. Bonds keep their streak alive Bond funds recorded $15.42 billion in inflows, marking the 20th consecutive week of positive flows. Emerging-market equities attracted $1.57 billion for the sixth conse...