Lipper: US markets attracted $12 billion last week - Reuters

According to Reuters, Lipper data this week shows that US money markets are attracting higher amounts of cash as traders' appetite for risk dries up under the weight of US President Trump's growing trade wars.

Key quotes

"U.S.-based money market funds attracted $11.84 billion in the week ended Wednesday, following outflows of $6.39 billion the previous week, Lipper data showed on Thursday. 

U.S.-based equity funds posted $7.2 billion of outflows in the week ended Wednesday, following two weeks of inflows, Lipper said. U.S.-based taxable bond funds posted over $1.1 billion of outflows in the week ended Wednesday, following four weeks of inflows, according to Lipper.

“It was risk-off week, pointing to the outflows for high-yield bond funds, too, of about $639 million as well as the inflows into money market funds,” said Pat Keon, senior research analyst at Thomson Reuters Lipper. “NAFTA talks as well as China tariffs contributed to this.”

Keon was referring to a public comment period, on the Trump administration’s plan for fresh tariffs on $200 billion in Chinese imports, ending on Thursday. China has warned of retaliation if Washington implements any new tariff measures.

“Of note, among the equity fund outflows was a $3.6 billion outflow for equity ETFs. This broke a streak of eight consecutive weekly net inflows for equity ETFs with the largest individual outflow belonging to SPDR S&P 500 ETF (SPY) which saw $9.1 billion leave,” Keon said."