US-based stock ETFs attracted $14.6 billion of inflows in the week ended Wednesday, their 10th consecutive week of inflows and the largest since June, illustrating investors' appetite for low-cost exposure to record-high stock markets.
Risk appetite was also reflected in high-quality bonds. US-based investment-grade corporate bond funds attracted $622 million of inflows in the week ended Wednesday, their 12th straight week of inflows, Lipper data showed on Thursday. "The equity ETF and taxable bond fund results I would describe as business as usual," said Pat Keon, senior research analyst at Thomson Reuters Lipper.
Equity ETFs have had 10 straight weeks of net inflows and are on pace for their largest annual net inflows ever, Keon noted. "Taxable bond funds have also been strong all year and most likely will finish with 2nd highest annual net inflow." US-based money markets took in more than $2 billion in the week ended Wednesday.
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