Market Downturn Draws Investors To Taxable Fixed Income Funds – Investing.com
- Date: 26-Sep-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Market Downturn Draws Investors To Taxable Fixed Income Funds – Investing.com
Unsurprisingly, given the increase in volatility in equity markets during the Refinitiv Lipper fund-flows week ended Sept. 22, 2021, investors turned their backs on equity ETFs and mutual funds, redeeming a net $6.7 billion, while padding the coffers of taxable (+$5.9 billion) and tax-exempt (+$1.6 billion) bond funds (including ETFs).
During the flows week, investors shrugged off a better-than-expected August figure that handily beat analyst expectations and news that the s September activity index almost doubled from the prior month.
Instead, they focused on the potential default by China’s giant property company Evergrande (OTC:), U.S. debt ceiling jitters, and news from the Federal Reserve Board’s September policy setting . The two former were drags on performance, while the latter sent markets to their best one-day rally in two months.
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