January 10, 2019 / 9:49 PM / 2 months ago

U.S.-based stock funds attract $8.74 bln in week ended Wednesday -Lipper

NEW YORK, Jan 10 (Reuters) - Investors put money to work in both U.S. stock and bond markets for the week ended Wednesday, in the wake of soothing remarks by Federal Reserve Chair Jerome Powell that low inflation would allow the central bank to be “patient” in deciding whether to continue raising rates this year.

U.S.-based stock funds attracted about $8.74 billion in the week ended Jan. 9, following the previous week’s cash withdrawal of $18.7 billion, according to data released Thursday by Lipper. U.S.-based taxable bond funds attracted $8.4 billion in the week ended Wednesday, following the previous week’s cash outflows of over $12.7 billion, according to the research service. (Reporting by Jennifer Ablan; Editing by Lisa Shumaker)

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