(Reuters) – U.S. equity fund inflows were large for a third consecutive week during the 7 days prior to January 5, but the pace of purchasing slowed due to Federal Reserve minutes raising expectations that interest rates will rise faster than expected.

Data from Refinitiv Lipper showed that investors bought U.S. equity fund assets for $8.98 Billion, a decrease of the $18.55 billion inflow.

For a related graphic on Fund flows: US equities bonds and money market funds, click https://fingfx.thomsonreuters.com/gfx/mkt/dwvkrkzaapm/Fund%20flows%20US%20equities%20bonds%20and%20money%20market%20funds.jpg

This week, the Dow and The Dow reached a new record. Apple Inc (NASDAQ) was the first company with a market capitalisation exceeding $3 trillion.

After minutes from the Federal Reserve’s recent meeting, optimism faded. Expectations of an earlier-than-expected increase in U.S. rates were raised by Minutes of Federal Reserve.

Financials, healthcare, and real estate were the most popular sector funds. They attracted $1.19, $0.65, and $0.36 billion each. Tech funds saw outflows in the range of $0.59 billion.

For a related graphic on Fund flows: US equity sector funds, click https://fingfx.thomsonreuters.com/gfx/mkt/jnpwejawrpw/Fund%20flows%20US%20equity%20sector%20funds.jpg

U.S.-based value funds earned $1.21 billion last week and saw a record third consecutive week, while growth funds experienced outflows in the amount of $712 million. This follows two consecutive weeks of net buying.

For a related graphic on Fund flows: US growth and value funds, click https://fingfx.thomsonreuters.com/gfx/mkt/zgvomanrevd/Fund%20flows%20US%20growth%20and%20value%20funds.jpg

Net buying by U.S. bonds funds reached $9.42 Billion, the largest weekly inflow of U.S. debt funds since September 1, 2021.

U.S.-based taxable bonds were bought by investors at $7.8billion. This is 65% more than the previous week. However, municipal bonds saw net buys of $1.13billion. It was the biggest in 4 months.

For a related graphic on Fund flows: US bond funds, click https://fingfx.thomsonreuters.com/gfx/mkt/akpezeoalvr/Fund%20flows%20US%20bond%20funds.jpg

U.S. money-market funds witnessed outflows in excess of $1.44billion after having purchased $34.6billion the week prior.