U.S. equity funds attracted investments for a fourth-straight week while money-market and municipal bond funds suffered outflows, according to data compiled by the Denver-based research firm Lipper.

Stock funds gained $5.4 billion in net new money in the week that ended Wednesday, while fixed-income funds added $4.6 billion, the data show. Those investing in municipal debt had to hand back $1.2 billion in the same week as Detroit became the most populous U.S. city to file for bankruptcy protection. Money-market funds saw net redemptions of $12.7 billion following four weeks of positive flows.

The Standard & Poor’s 500 Index of U.S. stocks has rallied more than 5 percent this month as corporate earnings exceeded expectations and concern has eased that the Federal Reserve will reduce stimulus measures too quickly. U.S. municipal securities, which are often tax-exempt, have lost 1.6 percent this month, while Treasurys have dropped 0.3 percent, according to Bank of America Merrill Lynch indexes. Corporate and high-yield debt gained 0.9 percent.

“Equity and taxable bond fund investors kept the pedal to the metal,” Tom Roseen, an analyst at Lipper, said in an e- mailed release. “Municipal bond funds continued to hemorrhage assets.” Investors were net redeemers from funds for the week, withdrawing just under $4 billion, Roseen said.

Detroit filed the biggest U.S. municipal bankruptcy July 18 after decades of decline left the city, once synonymous with America’s auto industry, unable to pay its debts and provide necessary services.

Of the 249 companies in the S&P 500 that have posted results so far in the current quarterly reporting season, 73 percent have exceeded analysts’ profit estimates and 57 percent have topped sales projections, data compiled by Bloomberg show.

Sovereign bonds have fallen since Fed Chairman Ben S. Bernanke signaled last month that the central bank could begin tapering its asset-purchase program as soon as September. The yield on the benchmark 10-year Treasury touched a two-year high of 2.75 percent on July 8 and was at 2.58 percent as of 10:02 a.m. in Tokyo Friday.