Investors withdrew a record $7.1 billion from U.S. investment-grade bond funds. Surging oil prices and rising Treasury yields triggered this sharp selloff. High-yield bond funds and leveraged-loan funds attracted modest inflows during the same week. These alternative fixed-income segments are less sensitive to rising yields. The market reflects investor preferences for resilience amid inflation concerns.

Global bond yields remain near multi-decade highs as inflation worries persist. Stock markets found scattered relief as oil prices pulled back on Friday. U.S. Treasury yields…

Such is the extent of the selloff that the average yield on the Bloomberg Global Treasury Index, which tracks government bonds of investment-grade countries, surged to 3.68% on…