“Nightmare On Bond Street”: HY Turmoil Leads To Third Largest Junk Outflow In History
by Tyler Durden
ZeroHedge.com
Nov 17, 2017
Following this month’s drop in junk bond prices and the 40 bps spread widening in high yield last week – the largest since November 2016 – Bank of America has come up with an apt title for its weekly fund flow report: “Nightmare on Bond Street”…
.. and with good reason: last week, US junk bond funds and ETFs reported a $4.43bn outflow this past week – the third largest outflow on record and the largest since August 2014. This follows a smaller $0.94Bn outflow the prior week. Non-US HY contributed an additional $2.3bn worth of redemptions, bringing the global junk outflow figure to -$6.7bn, also the 3rd largest ever.
The Rest…HERE
