ETF Daily News
The PowerShares Fundamental High Yield Corporate Bond Portfolio (NYSEArca: PHB), the third-largest ETF that buys debt, saw a record number of outflows on June 5 as investors pulled close to $29.5 million—or 1.6 million shares—from the fund, reports Bloomberg.
PHB’s record-breaking outflows come as U.S. high-yield bonds are in decline, and as the Federal Reserve appears to be contemplating the possibility of another round of quantitative easing. The article noted that the high-yield bond sector has lost 1.7 percent since the end of April.
For the full story, go to Bloomberg.com.