- Investors searching for the exit in high-yield took the easiest path this week, pulling more than $1B from ETFs, according to Bloomberg. The result was yields surging to 5.7% from 5.3%, says Barclays, the biggest weekly increase since March 2012.
- Yesterday alone, investors pulled $578.9M from U.S. junk funds, with BlackRock's $11.8B (HYG -0.7%) seeing $362.8M of withdrawals.
- It was only little more than a month ago when junk yields fell to their all-time low of 4.83%.
- ETFs: HYG, JNK, HYLD, SJB, ANGL, HYLS, UJB, XOVR, QLTC