Redemptions from U.S. Equity Funds jumped to a 38-week high as investors again questioned whether U.S. President Donald Trump’s administration has the focus and political skills to get its economic agenda through Congress.
Positive flows into utilities funds last week are the first positive sign in three months for the sector, while gold funds took in over $1 billion in new money.
The hope and hype that came in the first few weeks after the election didn’t seem to meet the ready cynicism about campaign promises not translating to active policy.