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Investors last week swapped high-yield bonds for investment-grade paper, according to the latest...

Investors last week swapped high-yield bonds for investment-grade paper, according to the latest flow data showing $200M leaving HYG and JNK and $300M moving into LQD. It's interesting, but hard to read too much into it as LQD has more than $22B in AUM and HYG more than $14B.
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