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ET Flows stay in backseat

CREDIT MACRO

$500m of outflows from LQD/$IG to end the week, marginal inflows into IEAC but still running net outflows over week, no signs of weakness in HY. Less focus for us recently on ETF flows - its been in the backseat while mutual funds come in strong.

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$500m of outflows from LQD/$IG to end the week, marginal inflows into IEAC but still running net outflows over week, no signs of weakness in HY. Less focus for us recently on ETF flows - its been in the backseat while mutual funds come in strong.