By Tom Roseen
For the second week in a row, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $15.0 billion for Lipper's fund flows week ended May 1, 2019. However, the headline numbers are misleading. Fund investors were net purchasers of money market funds (+$16.0 billion) and municipal bond funds (+$1.2 billion), but were net redeemers of equity funds (-$1.8 billion) and taxable fixed-income funds (-$352 million).
Market Wrap-Up
The S&P 500 Index strung together three consecutive days of record closes during the fund flows week ended