Flows Out of High Yield Bonds Continues; QE Success Questioned

Outflow out of High Yield bonds continues – A January 21 report from Bank of America Merrill Lynch, aptly titled “Recessionary Bond Flows,” points to price action that shows “global policy impotence & quantitative failure.” Monitoring fund flows and price action, the report from Michael Hartnett, the bank’s Chief Investment Strategist, and his team of Brian Leung and Garrett Roche, note, however, that equity outflows are currently paling in comparison to...

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