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And Some More Horrible News: Lipper FMI Reports $916 Million In High Yield Bond Outflows, Following $1 Billion Outflow In Prior Week
And just what HY investors did not want to hear after the Fed shocker: Lipper FMI just reported that High Yield bond funds saw $915.77 million in outflows for the week ended February 17, while bank loan mutual funds saw $160.9 million in inflows. Keep in mind last week was one of the largest outflows in HY in recent history at just under $1 billion. The high beta dumpage is officially on.
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Gonna be a fun ride next 10 days.
not much will happen. only the interest rates will drop ...
They will call him Barrack "Hoover" Obama.
And not merely because of his ability to bogart that J.
Haha....." $ 1 billion outflow in HY is rare but not unheard of ".....kudos to ML/BAC. Slap some lipstick on that pig and make her sing. Nothing to be concerned about here....just move along.
The rats jumping ship.
Dear Anon:
Getting an id other than
anon means never having
to say you're sorry for
your bad ideas, and
getting a little respect...
Uh, no... in case anyone's interested, HY investors are encouraged to see this since is means the tourists are leaving for the season and some of the money piling up since the middle of last year might get a chance to do some work for reasonable wages sometime at the end of this move..
UH, you guys are being silly.
HY is experiencing "outflows" bc it has come back to being fully priced and there not enough new supply to cover for the coupon.
This stuff is up 50-100% in 1yr!
But hey... you guys were bullish a year ago, right?
Actually, I was.
Started buying a HY fund in my 401k hand-over-fist in October 08. Didn't stop until a couple months ago.
Sold it all a few weeks ago.
Incredible gains.
The yields were ridiculously high back then (double digits, maybe 15%?). These days, probably fairly valued, if not a little overvalued.
People just taking their profits.
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