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Bond Market News

US Junk Bonds See Largest Outflows in 8 Months

December 3, 2021

US High Yield (HY) bond funds saw its biggest outflows in eight months in November as per Refinitiv Lipper data. The data shows that outflows of $4.2bn were seen in November with the ICE BofA US High Yield Index (a common benchmark) dropping 1% last month, the biggest fall since September 2020. Ryan O’Malley, fixed income portfolio strategist at Sage Advisory Services said that concerns emerged over the impact from the Omicron variant, particularly for the energy and transport sectors, adding that “The prospect of accelerated tapering of quantitative easing” also affected flows. Some analysts said that investors were exiting positions ahead of the year end and that uncertainty over the Fed’s rate path and low liquidity have also increased volatility.

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