Morning Commentary: High-yield bonds start flat; ETFs see massive $577 million outflows Wednesday

By Paul A. Harris

Portland, Ore., Aug. 1 – High-yield bonds were flat approaching mid-morning on Friday after opening down half a point, according to a portfolio manager.

The index lost 2 points during the month of July, the manager added.

Meanwhile high-yield exchange traded funds saw a massive $577 million amount of outflows on Wednesday, the manager added, citing a report from JPMorgan.

It was the second-largest daily outflow from high-yield ETFs on record, the source said.

That news trails a report on Thursday, from Lipper-AMG, that dedicated high-yield funds, including ETFs, saw $1.48 billion of outflows for the week to Wednesday's close.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.