Investors are fleeing long-term US bond funds at the swiftest rate since the height of the Covid-19 pandemic five years ago as America’s soaring debt load tarnishes the appeal of one of the world’s most important markets.
Net outflows from long-dated US bond funds spanning government and corporate debt have hit nearly $11bn so far in the second quarter, according to Financial Times calculations based on EPFR data.
The second-quarter exodus is on track to be the heaviest since severe market turbulence in early 2020, and marks a powerful shift from the average inflows in the previous 12 quarters of about $20bn.
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