Risk exodus gets real with biggest fund redemptions in six months

DUBLIN: An exodus from risk assets started in earnest as investors pulled billions of dollars from junk bonds and emerging markets.

A standoff over nuclear weapons between the US and North Korea and racial violence in the American south triggered the biggest outflows from high-yield bond funds in almost six months and emerging markets saw their first outflow in 22 weeks, Bank of America Merrill Lynch strategists wrote in a note, citing EPFR Global data for the week ending Aug 16.