$3.81 billion pulled from high-yield funds last week
The trouble at Third Avenue might just be the beginning. Investors are rushing out of junk bonds as the year winds down.
Lipper reports that redemptions last week hit $3.81 billion, that's the third highest since records began in 1992.
Equally concerning was that investment grade funds had a $5.1 billion outflow, that's the highest on record.
Is the cheap money party over?