Unlike emerging-market mutual funds, ETFs don’t have the option of holding cash, so if they get outflows, they have to sell the underlying bonds in the index they track.
These assets are in the midst of a prolonged drawdown.
Donald Trump's election gave a sharp boost to demand for socially responsible investment funds, just as several large asset managers moved into the field.
In the week just passed, the bond market continued its bullish recovery, though with far less of the fundamental impetus that followed the prior week’s litany of economic disappointments.
We recently saw a “death cross” in the 200-day and 50-day moving averages. But despite the foreboding name, turbulence may be minimal.
Each time Vanguard names a new chief executive, stocks take a catastrophic tumble.
The outperformance of bonds since the financial crisis, risk aversion and regulations unfriendly to equities have helped create a preference for fixed income.