U.S. Junk Bond Funds Suffer Biggest Outflow Since December
- Flaring U.S.-China trade war has roiled global markets
- High-yield returns fall below 8%, still best performing class
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High-yield corporate bond funds saw the pace of outflows accelerate as the U.S. and China continued to clash over trade, souring sentiment across markets.
Investors yanked $2.57 billion from retail funds in the weekly reporting period ended May 15, according to data from Refinitiv’s Lipper. The outflow is the biggest cash withdrawal for corporate high yield since December and a sharp rise from the $212 million pulled last week.