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Junk Bonds Report $8.63M Outflow

Funds Are Down 2.73% This Year

August 24, 2008

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.

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