BANK OF AMERICA: IT’S BOND CARNAGE
Ben Moshinsky
BusinessInsider.com
Dec. 18, 2015
Investors in bonds and loans have been heading for the exits.
They have pulled billions from the debt markets in the week the US Federal Reserve raised interest rates for the first time since the 2008 financial crisis, according to a report from Bank of America Merrill Lynch.
BAML analysts, led by Michael Hartnett, called it “carnage.” Bond funds saw $13 billion (£9 billion) in outflows this week, the most since June 2013.
It was even worse for funds that invest in bank loans — they had their worst week since 2011.
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