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How do bond ETFs behave when markets are extreme?

johnNjohnN
in The Bullpen
https://advisors.vanguard.com/insights/article/howdobondetfsbehavewhenmarketsareextreme

How do bond ETFs behave when markets are extreme?
Bond ETF premiums and discounts: Analyzing market price and NAV behavior from the financial crisis till now
Fixed income ETF investors in March experienced some of the worst discounts seen across bond ETFs since the global financial crisis. These discounts, a reflection of the difference between an ETF's market price—the price at which an investor transacts—and its net asset value (NAV), have drawn a lot of attention. Across Vanguard's fixed income ETFs, a few showed uncharacteristically large deviations, with a couple posting discounts greater than 7% on a given day.

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