Lipper-FMI fund flow data - Week ended March 13

High Yield funds have partly recovered (+1$bn) from the $1.9bn outflows seen last week. YtD net inflows are still very decent in the asset class ($8.2bn), although the dynamic has changed since early March. This goes in line with $HY spreads stabilizing and underperforming €HY since the beginning of the month. Seventh straight week on inflow s in US IG funds , with $3.3bn last week, leading the YtD net inflows to outpace the $10bn now. On the other hand, 17 th straight week of outflows in leveraged loan funds : the YtD net figure (-$8.3bn) is more than offsetting the inflows entering $HY bond funds. 4 th straight week of outflows in EM debt fun ds, but YtD is still positive by $1.5bn albeit lower than last year at the same period.