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Risk-off: US High Yield Bond Funds See $2.2B Cash Withdrawal

US high yield bond flows
U.S. high-yield funds recorded an outflow of $2.2 billion for the week ended Aug. 16, according to weekly reporters to Lipper only. This comes on the heels of last week’s $123 million inflow.

ETFs accounted for the bulk of the outflow this week, with an exit of $1.25 billion, while mutual funds saw an outflow of $935 million.

The year-to-date total outflow is now $8.5 billion, including a roughly $9.6 billion outflow from mutual funds and $1 billion inflow to ETFs.

The four-week trailing average dipped into negative territory, after two consecutive weeks in the black, falling to negative $473 million, from positive $630 million last week.

The change due to market conditions this past week was a decrease of $346 million. Total assets at the end of the observation period were $207.8 billion. ETFs account for about 23.5% of the total, at $48.9 billion. — James Passeri

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This story first appeared on www.lcdcomps.com, an offering of S&P Global Market Intelligence. LCD’s subscription site offers complete news, analysis and data covering the global leveraged loan and high yield bond markets. You can learn more about LCD here.

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