Morningstar said long-term mutual funds saw redemptions of $32.5 billion in August, the most since November 2008. In July, these funds experienced outflows of nearly $17.1 billion.

The month’s outflows for taxable-bond funds were $12 billion, while investors drew $7.3 billion and $5.1 billion from bank-loan and high-yield bond funds, respectively. However, money market funds witnessed inflows of $74.8 billion.

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