Posted by sbaxman111 on 17th of Nov 2017 at 10:57 am
Following this month's drop in junk bond prices and the 40 bps
spread widening in high yield last week - the largest since
November 2016 - Bank of America has come up with an apt title for
its weekly fund flow report: "
Nightmare on Bond Street"...... and with good
reason:
last week, US junk bond funds and ETFs reported a $4.43bn outflow
this past week - the third largest outflow on record and the
largest since August 2014. This follows a smaller
$0.94Bn outflow the prior week. Non-US HY contributed an additional
$2.3bn worth of redemptions,
bringing the global junk outflow figure to -$6.7bn, also the 3rd
largest ever.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Junk Bonds outflow
Posted by sbaxman111 on 17th of Nov 2017 at 10:57 am
Following this month's drop in junk bond prices and the 40 bps spread widening in high yield last week - the largest since November 2016 - Bank of America has come up with an apt title for its weekly fund flow report: " Nightmare on Bond Street"...... and with good reason: last week, US junk bond funds and ETFs reported a $4.43bn outflow this past week - the third largest outflow on record and the largest since August 2014. This follows a smaller $0.94Bn outflow the prior week. Non-US HY contributed an additional $2.3bn worth of redemptions, bringing the global junk outflow figure to -$6.7bn, also the 3rd largest ever.