US Investment Grade (IG) bond fund outflows were at $2.55bn for the week ending October 6, the biggest withdrawal since April 2020, as per Refinitiv Lipper data. These were the first outflows in eight weeks as macro factors engulfed markets. US 10Y yields jumped to its highest in over three months and the exit from IG funds followed the 1.05% loss in September by the Bloomberg IG Index, the worst monthly total return since March 2021. Even US High Yield (HY) funds faced withdrawals in the week with investors pulling $294mn during the week.

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