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...He ascribed the ETF’s drift on the deterioration of low-grade credit and “repricing of investors’ forecast regarding the path of Federal Reserve’s interest rate hikes....BKLN has floating-rate underlying instruments, assets that become less attractive than fixed-rate ones should the Fed skip its March rate hike, as some are anticipating.”
The price action in the ETF hasn’t warranted investors to justify keeping it on to collect the monthly coupon it pays...The risk/reward hasn’t been there compared to short-term treasury products like JPST.
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