‘The Biggest ETF In Town’

One of the key dynamics to grasp when it comes to explaining why global equities and credit have rallied to nosebleed levels is the interplay between central bank liquidity and passive flows. This is a world where central banks have created a global hunt for yield and then supercharged it by working on both the supply and the demand side of the equation. Buying up corporate bonds with freshly-printed money weighs on supply and the very act of funneling trillions into the market creates demand b