Short Demand For HY ETFs Hits Record
There's been a lot of discussion about HY ETFs of late and it's not hard to understand why.
As a reminder, junk bond funds saw massive outflows earlier this month in the wake of the market turmoil that also sent investors scurrying from IG funds (as rate jitters hit home) and, briefly, from equities.
You might recall the following from BofAML, out on February 15:
On a trailing 4 week basis, US HY has lost nearly $11bn due to redemptions, putting this episode in a league with only the 2010 EU d
There is a contrarian play for a snap back. But you need to be in and out.
Wild Bill Dudley’s “small potatoes” comment is one of his greatest hits.
He is a piece of work. This is the same man who says rebuilding from a hurricane is good for the economy. And (on the basis of ‘hedonic adjustments’) inflation is a figment of your imagination.
Not that there’s anything wrong with the President & CEO of the Federal Reserve Bank of New York – and Vice Chair of the FOMC – being oblivious to basic economics.