FYI: Nervous money managers fled from corporate bonds like never before in an exodus that outpaced stocks.
Record outflows hit funds that buy investment-grade debt from the likes of Apple Inc. and Ford Motor Co., according to Bank of America Corp. strategists citing EPFR Global data. The redemptions totaled $7.5 billion in the week through Oct. 10.
By comparison, investors pulled $1.4 billion from equity portfolios during the period, while government and Treasuries actually saw inflows, according to the data which takes a snapshot of the ETF and mutual fund landscape. High-grade bond gauges have also suffered the steepest losses of all the Bloomberg Barclays indexes in this month’s market meltdown.
Regards,
Ted
https://www.bloomberg.com/news/articles/2018-10-12/record-exodus-from-credit-funds-outpaces-flight-from-stocks
