Outflows of junk bond funds decline

ARCATA, Calif., Dec. 31 (UPI) -- AMG Data Services of Arcata, Calif., said Friday high-yield bond funds reported $87.53 million of withdrawals in the week ended Wednesday.

The asset class has posted modest outflows for the last several weeks as investors position for the end of the recent rally. This week marks the sixth consecutive week that money has flowed out of the funds.

Last week, the funds reported $118.1 million was withdrawn from the funds.

In the last week, the high-yield market has ground to a near halt, as the Christmas and New Year's holidays have inhibited trading volume.

In the week ended Wednesday, the number of funds reporting inflows rose to 170 from 159, while the number reporting outflows fell to 183 from 195.