Investors are rotating back into US credit funds: US investment-grade and high-yield corporate bond funds posted ~9 BILLION in net inflows last week, the most in 10 weeks. The 4-week moving average of inflows turned positive for the first time since March, at ~5 billion. This is a sharp turnaround from the ~28 billion outflow recorded in the second week of April, the most since 2020. Meanwhile, the high-yield corporate bond ETF, HYG, has jumped+ 5.4% since its April 8th low and hit an all-time high. US high-yield corporate bond spreads have fallen 1.37 percentage points, to 3.20%, near the lowest since the last week of March. The US corporate bond market is stabilizing.