Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Lipper: American bond funds and tech equities attract decent inflows
As Lipper data showed on Thursday, US-based taxable-bond funds managed to take in $7 billion for the last week, which is the greatest weekly intake since July. The outcome contributed to an already firm year for debt versus the backdrop of a rate-hiking cycle.
Well, even in a week with huge inflows for technology equities, American fund traders keep favoring debt over equity. On Wednesday, the Fed unveiled plans to cut its own bond holdings, thus marking a historic shift from the ultra-easy monetary policy it had been pursuing since the 2007-2009 global financial meltdown.
In 2017, taxable-bond mutual funds as well as exchange-traded funds have currently brought in almost $219 billion in America, as Thomson Reuters' Lipper research unit states.
Nevertheless, it’s not a bubble, as some financial experts say. Technology-driven disinflation, demographics and debt – all work to put pressure on long-term rates.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…