Investors Pull $6 Billion From Junk-Bond Funds After Turmoil
- Outflows follow declines in U.S. stocks and junk-bond prices
- Money managers growing fearful about inflation, rising rates
Junk-Bond Funds Hit With $6 Billion Ouflows
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Investors withdrew $6.3 billion from U.S. high-yield junk bond funds in the past week, the second-biggest amount ever, as concern mounted that equity-market volatility was spreading.
The week marked the fifth consecutive week of outflows, bringing the total over that period to more than $15 billion, according to Lipper Fund Flows data which include exchange-traded and mutual funds. That’s the longest consecutive period on record and the biggest weekly outflow since $7.06 billion was withdrawn in August 2014.