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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

$1 billion poured by traders into biggest credit ETF to front-run Fed

By cpowell
Created 2020-03-24 15:17

By Katherine Greifeld
Bloomberg News
Tuesday, March 24, 2020

The rush into investment-grade bonds picked up after the Federal Reserve said it will step into the market, with the world's largest credit exchange-traded fund seeing the second-biggest inflows in its 18-year history.

The $30.3 billion iShares iBoxx $ Investment Grade Corporate Bond exchange-traded fund posted inflows of $1.06 billion on Monday, according to data compiled by Bloomberg. Traders piled into LQD as the U.S. central bank said it would begin buying corporate bonds and certain credit ETFs. Monday's haul fell just shy of its record one-day intake of $1.09 billion in 2016.

... Dispatch continues below ...


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Mounting concern over the impacts of the spreading coronavirus has roiled financial markets, with corporate default risks haunting investors. Traders are now trying to get ahead of the Fed's purchases, which could boost both the ETF and its underlying assets. LQD extended gains after posting its biggest rally since 2008 as investment-grade bonds rebounded. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-03-24/traders-pour-1-billio... [2]

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Source URL:
http://www.gata.org/node/19983