Lipper-FMI fund flow data - Week ended September 12
Lower-risk US bond exposure has been favored again this week against the backdrop of trade war and emerging market fears (largest withdraws since June seen in EM equity funds this week), with US taxable bond inflows of $2.4bn , while IG credit funds received massive inflows of $3.2bn. On the other-hand, US HY funds posted $862mn outflows, while US-based stock funds faced $1.8bn withdrawals, despite pretty good macroeconomic statistics in the US over the past week (latest Job report notably). Lev. Loan funds seemed to have benefited from rising US rates this week , but net inflows there have not offset HY outflows.