Safety over yield: Money exits junk, enters investment-grade

|By:, SA News Editor

Withdrawals from high-yield funds accelerate, hitting about $4.8B this week, according to EPFR Global - that's the 3rd largest weekly outflow since June of 2013.

Investment-grade funds, on the other hand, saw inflows of roughly $4.2B, their 31st consecutive week of inflows.

Jim Reid's Deutshce notes high-yield has been struggling this month, but no signs of stress have emerged. Indeed, the high-yield issuance market remains open for business, with another $1.3B priced just yesterday.

High-yield ETFs: HYG, JNK, HYLD, SJB, IHY, ANGL, HYLS, PGHY, HYXU, UJB, XOVR, QLTC, IJNK

IG ETFs: LQD, CORP, CRED, PICB, IBND, QLTA, COBO, IGS, CBND, IGU, SUBD, QLTB