Junk Bond Funds Post Third Biggest Outflow Ever Amid Risk Rout
- Risk assets were ‘due some profit taking:’ BlackRock
- Japanese equity funds see inflows despite 4-day slump
Elswick Says Junk Bonds Selloff a Buying Opportunity, Nov. 13
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Investors pulled about $6.8 billion from high-yield bond funds last week, the third-biggest outflow on record, as investor jitters about the sustainability of yields at multi-year lows caused a selloff in risk assets.
Emerging-market bond funds lost $100 million, their biggest outflow in 42 weeks, Bank of America Merrill Lynch said in a research note, citing EPFR Global fund flow data. Portfolios holding Treasuries benefited from the pullback from risky assets, recording their first inflows in nine weeks.