Money pours out of high yield funds
Global high yield fund outflows are surging, with data provider EPFR reporting about $2bn leaving the sector in the first two days of this week alone. Bankers and investors had already been expecting bigger outflows than previous weeks. In the seven days to August 3, EPFR had shown outflows of $1.13bn, while Lipper had reported $804.3m of outflow.
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