Investors Withdraw Most Cash From U.S. Credit Funds in a Decade
- Buyers pulled $4.8 billlion from investment-grade funds
- High-yield bond funds see outflow of $5.1 billion in past week
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Investors withdrew $12.2 billion from U.S. funds that buy corporate bonds and loans, the biggest weekly total in at least a decade, as the spreading coronavirus battered markets globally.
High-grade bond funds saw $4.8 billion of outflows in the week ended March 4, according to Refinitiv Lipper. Junk-bond funds had $5.1 billion withdrawn, while leveraged loan investors pulled $2.29 billion during the period. The outflows represented the largest combined total in data compiled by Bloomberg going back to January 2010.