Lipper-FMI fund flow data - Week ended June 19

Another huge amount of inflows pouring into IG funds this week, in the aftermath of central banks’ dovish turn confirmed again earlier this week by J. Powell’s FOMC speech. On the other hand, HY fund inflows are slowing down ($602mn only), with the deterioration of macroeconomic indicators (Philly Fed and Leading indicators this week) offsetting the positive impact stemming from the Fed’s dovish turn. Worse is for leveraged loan funds, posting their 31 st consecutive week of outflows… On a YtD basis, it is worth noticing that 2019 still appears as one the best year since 2012 in terms of net inflows for US-based credit funds.