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We Just Saw The Largest Daily Inflow Ever To A Corporate Bond ETF: (LQD)
Of note: Many hedge funds are using ETF's as part of a portfolio. Obviously, some of the hedge funds money flows are large. One may suspect some of the reported flows from Ted's link article are hedge fund related.
Of note: Many hedge funds are using EFT's as part of a portfolio. Obviously, some of the hedge funds money flows are large. One may suspect some of the reported flows from Ted's link article are hedge fund related.
I've also seen hedge fund buys & sells cited as the main force behind volume spikes in the high-yield etf's (HYG, JNK) and for the quick ramp-up in trading of TOTL shortly after launch. Etf's make it easy to move quickly in and out of substantial positions in single asset classes.
Pimco has put out a few marketing pitches lately for the credit side of fixed income; wonder if it's catching on in a big way. I thought that ship had more or less already sailed, so am kind of curious what the "professional" thinking is at this point.
Of note: Many hedge funds are using EFT's as part of a portfolio. Obviously, some of the hedge funds money flows are large. One may suspect some of the reported flows from Ted's link article are hedge fund related.
I've also seen hedge fund buys & sells cited as the main force behind volume spikes in the high-yield etf's (HYG, JNK) and for the quick ramp-up in trading of TOTL shortly after launch. Etf's make it easy to move quickly in and out of substantial positions in single asset classes.
Pimco has put out a few marketing pitches lately for the credit side of fixed income; wonder if it's catching on in a big way. I thought that ship had more or less already sailed, so am kind of curious what the "professional" thinking is at this point.
PIMCO unlike the bond king's firm Doubleline has been pretty spot on regarding junk bonds. Here's something from the first week in March. Yet another day of all time highs in junk bonds.
I wonder what types of annual returns the folks piling into such funds are anticipating? Or, what might be more appropriate, what is their objective on taking that action?
Junkster, the most recent marketing e-mails I've gotten from Pimco are more about investment grade corporates, e.g., the portfolio style of PIGIX (LQD fits in that box too). Of course you can't tell from Pimco (without a phone call) how much junk they have in the oef's they run that aren't HY funds, since they don't disclose credit quality in their oef reports. BOND is really light on junk now, but I think it's usually like that.
From the webcasts, DoubleLine's also still worried about a serious bump in defaults and downgrades in corporate junk, especially in the oil & gas patch. DLFNX supposedly had a decent stake in HY for a few months, but they've reduced it recently.
Apparently DoubleLine's big credit bet is in EM, which has had/is having a good run too.
This is a Bridgewater sample as of 3-31-16. I recall earlier reports with large positions in AGG, although it may have been one of his/their other hedge funds.
Comments
LQD closed down today, -.26%.
Pimco has put out a few marketing pitches lately for the credit side of fixed income; wonder if it's catching on in a big way. I thought that ship had more or less already sailed, so am kind of curious what the "professional" thinking is at this point.
PIMCO unlike the bond king's firm Doubleline has been pretty spot on regarding junk bonds. Here's something from the first week in March. Yet another day of all time highs in junk bonds.
http://www.bloomberg.com/news/articles/2016-03-03/pimco-wades-into-junk-as-doubleline-warns-danger-still-lurks
From the webcasts, DoubleLine's also still worried about a serious bump in defaults and downgrades in corporate junk, especially in the oil & gas patch. DLFNX supposedly had a decent stake in HY for a few months, but they've reduced it recently.
Apparently DoubleLine's big credit bet is in EM, which has had/is having a good run too.
https://www.holdingschannel.com/13f/bridgewater-associates-lp-top-holdings/
Same date as above, but a % viewpoint: Below the 13F section, click the "see all holdings".....check the dollar value of the etf holdings.
http://whalewisdom.com/filer/bridgewater-associates-inc