US Junk-Bond Funds Post the Biggest Outflow in Seven Months
- Investors pulled over $2 billion as economic worries percolate
- High-grade bond funds also experienced a cash withdrawal
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Funds that invest in US corporate high-yield bonds suffered the biggest weekly cash exit since February as concerns that interest rates will stay higher for longer continue to mount.
About $2.4 billion of cash exited the funds in the week ended Sept. 27, according to data from Refinitiv Lipper. That’s the largest exodus since the period ended Feb. 22, the data showed.