币界网报道：Hedge funds are reallocating $11 billion from private credit markets to bonds amid shifting investor preferences, according to recent data. The move comes as private credit faces its first quarterly outflows in over two years, with $2.5 billion withdrawn in Q2 2024. Meanwhile, bond funds have seen significant inflows, attracting $21 billion during the same period. Analysts attribute this rotation to changing risk appetites and yield expectations, as investors seek more liquid assets. The private credit market, which had been a darling of institutional investors during the low-rate era, is now seeing reduced allocations as fixed income alternatives become more attractive. Market participants note this marks a notable shift in capital flows, with hedge funds leading the charge in rebalancing portfolios. The trend reflects broader concerns about private credit valuations and potential stress in leveraged buyout markets. Some industry observers suggest this could signal the beginning of a longer-term rotation away from private credit strategies.