high-yield bond

Investors offloaded high-yield bond funds of a net $2.6 billion in their biggest weekly net disposal since Feb. 22.

They attributed the drop to outflows from emerging market debt funds, high-yield bonds, and from developed markets long-only investors offsetting record long hedge fund position in 2-year Treasuries.

Meanwhile, high-yield bond funds obtained $696 million, staying in demand for a second successive week.

A case in point is the high-yield bond mania at the end of the 1980s, or more recently with mortgage-backed securities just before the global financial crisis.

Global high-yield bond funds received a net $2.97 billion, the biggest amount since April 5.