Investors pulled $7.1bn from fixed income exchange-traded products in June, amid a global bond sell-off spurred by concerns over the future of the US Federal Reserve’s quantitative easing programme.

Bond ETPs suffered the largest outflows of any asset class in June, according to figures published on Thursday by consultancy ETFGI, with the most severe fixed income sell-off in the US. Of the $7.1bn in net outflows globally, $6bn came from the US while $903bn came from Europe. The rest was from other markets.