FYI:
.Confusing picture of fund flows indicate the possibility of institutions rebalancing as we prepare for the second half.
.Clear outflow leaders include extremely short U.S. Treasury (GBIL & SHY) seeing a total of over $5billion in outflows and floating rate asset classes like floating rate corporate bonds (FLOT) and senior loans (BKLN) seeing a total outflow of over $1billion.
.Enormous inflows have been in iShares iBoxx $ Investment Grade Corporate ETF (LQD) with a surge of over $5billion month to date.
.iShares collected over $6billion in assets in its short treasury (SHV) and 7-10 Year treasury (IEF) ETFs as investors seem to extending out the curve.
.High yield corporate bonds saw a bit of a rebound as the iShares iBoxx $ High Yield Corporate ETF (HYG) collected $1.5billion so far in June. It’s major competitor SPDR Bloomberg Barclays High Yield Bond ETF (JNK) collected only $160million during this time period.
.Two aggregate bond ETFs, Vanguards BND and iShares AGG together collected over $2.6billion (approximately $1.3billion each).
.Other notable ETFs include the iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) which collected nearly $900million.
Regards,
Ted
https://riegerreport.files.wordpress.com/2019/06/rr_etf_flows_june2019.pdf
