Rate Hike Fear Pushes High-Yield Bond ETF Over a Cliff
Outflows from HYG almost hit $1 billion on Thursday.
Janet Yellen, chair of the Federal Reserve.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Right before Halloween, investors got scared by interest rate risk.
Outflows from the iShares iBoxx High Yield Corporate Bond exchange-traded fund (HYG), the top ranked ETF by assets in the junk bond market, set a new record on Thursday—almost eclipsing the $1 billion mark.