Junk Bonds Report $8.63M Outflow

U.S. junk bond mutual funds saw $8.63 million in net outflows for the week ending Aug. 20, a steep drop from $53.47 million in inflows the previous week, according to AMG Data Services.The struggling economy and rising defaults have caused junk bonds to post a 2.73% loss year-to-date, the second-worst performance among fixed-income assets after asset-backed bonds, which are down 9.35% for the year.Junk bonds carry high yields to compensate for their risks and are rated below investment grade.