Bond markets react to Fed intervention by shifting to “risk-on”. Assets Under Management (AUM) of fixed income ETFs ended at $924billion (up from $888billion at month-end April).
As reported by ETF Action:
During the last five business days bond ETFs have gained $8.659billion in flows
Net flows for the year are a positive $62billion
Winners year-to-date:
U.S. Treasury bond ETFs saw inflows of over $25.7billion
Investment grade corporate bonds inflows YTD were over $20.8billion
High yield corporate bond ETFs flows were $11.45billion YTD
Outflow leaders year-to-date:
Senior loan (Bank Loan) floating rate funds have seen outflows of $2.64billion
U.S. Treasury inflation linked ETFs have seen outflows of over $2.4billion
Long U.S. Treasury bond ETFs have lost assets totaling over $1.5billion
Source:ETF Action. Table is provided for illustrative purposes only. Past performance is not a guarantee of future results. (1) Not all ETFs or asset classes represented here. (2) Excluding floating rate. FactSet classifications are used. Data as 5/29/2020.
At the time of this writing, JR Rieger’s fixed income related holdings include investment grade individual municipal bonds, insured municipal bonds, a municipal bond money market fund and a position in the VanEck Vectors High-Yield Municipal Index ETF (HYD).
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