Follow The Flow: A hot summer for credit

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Follow The Flow: A hot summer for credit

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Follow The Flow

A hot summer for credit

Inflows into credit funds re-accelerate 10 July 2026

Summertime technicals continue to point to strong demand for credit. While supply Credit Strategy

typically declines during the summer months, ongoing inflows are helping to keep Europe

demand elevated across credit markets (see report: RV Panorama: Credit vs. CLOs – Ioannis Angelakis

searching for value and Credit Derivatives Navigator: Carry now, convexity next. In a Credit Derivatives Strategist

world of lower rates volatility and attractive yields across fixed-income products, inflows MLI+44 (UK)20 7996 0059

into both credit and government bonds remained strong last week. ioannis.angelakis@bofa.com

Over the past week… BarnabyCredit StrategistMartin

MLI (UK)

High grade funds registered inflows for the 11th week in a row. Over the past week, +44 20 7995 0458

mid-term funds led the way (now thirteen weeks in a row), as the inflow (in % of AUM barnaby.martin@bofa.com

terms) has surpassed that into the front-end of the market. While short term IG funds Mohit Agarwalla

Credit Strategist

saw inflows, long term funds continued to suffer from outflows (for the past four MLI (UK)

weeks). Now extending to fourteen consecutive weeks, IG ETFs saw yet another inflow. mohit.agarwalla@bofa.com

High yield funds recorded their fourth week of consecutive inflows. While

underperforming the flow strength seen in IG space, HY funds have suffered only from

one week of outflows over the past 13 weeks. For European-domiciled funds, Euro-

focussed HY funds registered the strongest inflow last week, closely followed by Global- Table 1:Weekly and YTD European

focussed HY funds. On the flip side, US-focussed HY funds suffered from outflows.