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Banks adding USTs: US Rates Research: Flow of Funds
研报英文原文证据摘录
Banks adding USTs: US Rates Research: Flow of Funds
FICC Research
Interest Rates
29 June 2026
US Rates Research: Flow of Funds
Banks adding USTs
Weekly bond fund inflows moderated to $11bn across sectors
in the holiday-shortened week. Banks securities portfolios
rose again, with large and foreign banks adding USTs. Foreign Demi Hu, CFA +1 212 526 7398
demand held steady, with Japanese buying along with demi.hu@barclays.com
modest gains in Fed custody holdings of USTs. BCI, US
Samuel Earl
+ 1 212 526 5426
Fixed income ETF and mutual fund inflows moderated over the holiday-shortened week samuel.earl@barclays.com
through June 25, with funds taking in $11bn, compared with the prior four-week average pace BCI, US
of $16bn. Aggregate weekly inflows ranked at the 37th percentile versus the past six months,
Anshul Pradhan
and the latest data bring total year-to-date inflows to $322bn, well above $166bn over the same +1 212 412 3681
period in 2025. anshul.pradhan@barclays.com
BCI, US
Demand for short-term government funds improved slightly week over week but remained
modest at the 38th percentile versus its six-month history. Intermediate sector demand
softened, with intermediate-term government and corporate funds at the 23rd and 48th
percentiles, respectively, while mixed intermediate-term funds ranked at the 35th percentiles. At
the long end, flows remained subdued. Long-term government funds had a level of outflows
similar to the prior week, while aggregate long-term flows held near the 38th percentile,
still suggesting limited re-engagement in duration.
Across other sectors, flows were mixed. Mortgage-backed demand softened to the 30th
percentile, while inflation-protected funds also cooled to the 37th percentile after stronger
readings earlier in the month.
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