HY bonds generate largest daily inflows ever

Added 15th July 2016

Bank of America Merrill Lynch data revealed 11 July was “the day when bears capitulated into risk assets” with investors flocking to high yield in droves.

HY bonds generate largest daily inflows ever

Monday’s daily high yield inflows were the highest on record, reaching $2.1bn (£1.6bn), according to the BAML report. Investors poured $4.4bn (£3.3bn) into high yield bonds over the week, the largest amount since March this year. 

Emerging market debt was the second most popular fixed income instrument among investors, followed by bank loans, which saw their highest inflows ($0.4bn) in nearly three years.

Equity funds recorded inflows totalling $11bn (£8.25bn) over the week, the largest positive flows that asset class has seen in 9 months. This was chiefly driven by US equities which drew in $12.6bn (£9.5bn) of inflows.

The week also saw emerging market equities garnering inflows of $1.6bn (£1.2bn), the largest figure since March. While, Japan equities were also able to maintain their fifth consecutive week of positive flows.

However, BAML's regional equities net flows breakdown offered a glimpse at how fragmented investor confidence in Europe remains. European equities are on their 23rd consecutive week of outflows, reporting record redemptions of $5.8bn (£4.4) over the week. UK equities also continue to struggle and have seen $0.9bn in outflows this week.



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