Lipper-FMI fund flow data - Week ended November 14
Outflows this week in US HY funds (-$487mn) after the recovery seen over the past week ($1bn), mirroring the sharp spread-widening observed this week (40bp vs swap). Conversely, Leveraged loan funds behaved better with positive inflows of $60mn , pushing the 12-week rolling average above $500mn. In line with the 20bp spread widening observed in EM debt spreads, EM debt fund posted net outflows again this week ($52mn), while Us-based stock funds partially recovered after the heavy outflows endured the we ek before. IG credit funds showed net inflows, although moderate ($755mn) compared with 2018 weekly average of $1.5bn.