- Both iShares' HYG and State Street's JNK saw their largest daily inflows on record this week, according to Bloomberg. This comes after nearly $4B in withdrawals over roughly the preceding year. Blame China and Greece, at least indirectly.
- I’d bet it’s more technical,” say Goldman's Charles Himmelberg. “I bet there are enough fund managers who use it as a tool to make sure they’re tracking their benchmarks.”
- In other words, with high-yield bond sales rare of late (partly thanks to global market jitters, courtesy of China and Greece), investors needing to get exposure to the paper turn to ETFs.
- So more global jitters could lead to more inflows, or relative calm cold lead to a quick reversal for that $1B.
- ETFs: HYG, JNK, HIX, HYLD, DHY, PHT, EAD, HYT, JQC, CIK, DSU, HHY, SJB, NHS, PHF, ACP, FHY, MCI, VLT, KIO, ARDC, CIF, MHY, AIF, ANGL, PCF, DHG, MPV, IVH, HYLS, JSD, UJB, CJNK, GGM, QLTC