Global equity funds attracted their largest weekly inflow in three weeks, recording net inflows of $49.23 billion in the week to July 8, according to LSEG Lipper data. The surge was driven by strong demand for artificial intelligence-linked technology products and cooling expectations for Federal Reserve rate hikes. US equity funds drew $24.97 billion, their largest in three weeks, while European and Asian equity funds saw $13.67 billion and $6.95 billion, respectively. The technology sector attracted $11.49 billion in inflows, up from $8.88 billion the previous week, with the sector forecast to report 54.2% year-on-year growth in second-quarter net income. Financial and industrial sectors recorded $1.52 billion and $789 million, respectively. Global bond funds attracted $31.34 billion in inflows, the largest since at least 2019, with short-term bond funds, euro-denominated bond funds, corporate bond funds, and government bond funds recording weekly net purchases of $7.19 billion, $3.87 billion, $2.92 billion, and $2.73 billion. Money market funds saw $83.76 billion in net purchases, their largest since June 3. Gold and other precious metals commodity funds recorded an eighth consecutive weekly outflow of $372 million. Emerging market equity funds lost about $500 million in their 11th consecutive weekly outflow, while bond funds attracted net inflows of $1.66 billion.