US junk bond funds lose $649 mln, most in 4 months

Newswire

NEW YORK, Jan 31 (Reuters) - U.S. junk bond mutual funds lost a net $648.9 million of cash in the week ending Wednesday, the most in four months, as investors worried about a possible war with Iraq favored safer securities. The weekly outflow, reported by AMG Data Services of Arcata, California, is the second in a row, following inflows in 13 of the prior 14 weeks. It is the largest outflow since the funds lost $1.4 billion in the week ending Sept. 25. Fund flows are considered a good ...

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