(Reuters) – Inflows to global equity funds were huge in seven days leading up to February 9, as investors reacted positively on strong earnings results by U.S.-based and European companies. Investors also shrugged off worries about rising inflation and bond yields. Refinitiv Lipper data revealed that global equity funds bought $24.24 trillion in the largest weekly buy since Dec. 29.

Fund flows: Global equities bonds and money market – https://fingfx.thomsonreuters.com/gfx/mkt/lgvdwxgdnpo/Fund%20flows-%20Global%20equities%20bonds%20and%20money%20market.jpg

A new batch of international companies, including Amazon.com Inc. (NASDAQ:), the oil giant BP and Britain’s GSK posted strong earnings. However, Meta Platforms (NASDAQ:), which is Facebook’s owner, missed its profit projections. U.S. equity funds were purchased by investors for $14.19 billion in the United States, $6.07 billion, and $2.03 trillion respectively. Net buying by financial sector funds was $1.63 Billion, which is the largest in just three weeks. Energy and utilities sector funds each received $0.76 Billion.

Consumer discretionary, tech and health funds experienced outflows of $0.8billion, $0.73billion and $152m, respectively.

In the meantime, outflows from global bond funds totalling $9.05 trillion were recorded for the fifth week in a row.

Fund flows: Global equity sector funds – https://fingfx.thomsonreuters.com/gfx/mkt/egpbklerovq/Fund%20flows-%20Global%20equity%20sector%20%20funds.jpg

Inflation protected funds experienced outflows of $1.55 billion for the third consecutive week. Global high yield and short-term bond funds were sold net at $4.01 and $2.08 respectively.

“We believe the selloff in high yield is largely technical in nature and we are constructive on high yield as we are still seeing very robust fundamentals, strong balance sheets,” said Paul Benson, head of Efficient Beta at Insight Investment.

However, the government bond funds received $3.15 trillion, their largest inflow in just seven weeks.

Global bond fund flows in the week ended Feb 9 – https://fingfx.thomsonreuters.com/gfx/mkt/dwvkrjyxjpm/Global%20bond%20fund%20flows%20in%20the%20week%20ended%20Feb%209.jpg

Outflows from global money market funds reached $35.42 billion. This represents a 68% rise in net sales over the prior week. Inflows to commodity funds were at $289million, a 4th consecutive week. However, this is the lowest level since January 12. After four weeks of inflows, energy funds saw marginal inflows worth $25 million. After having bought $306 million the week before, an analysis of 24010 emerging markets funds revealed that equity funds had pulled in $4.05 Billion in net purchases. Investors also sold $98 Million in bond funds.

Fund flows: EM equities and bonds – https://fingfx.thomsonreuters.com/gfx/mkt/klpykmlaqpg/Fund%20flows-%20EM%20equities%20and%20bonds.jpg