from Zero Hedge
HYG – the high yield bond ETF – is trading at its richest to NAV in over 4 years after 7 straight days of inflows. This flowgasm seemed to crescendo yesterday where Credit Suisse estimated a very sizeable HY retail fund inflows (total amount hitting ~$1.9bn) which they note beat 5-Nov-2014 as being the largest inflow day ever.
With the ETF at such an extreme in valuation and given the historical performance of the fund after 7 straight days of inflows…