A Billion Dollars Just Went Into Junk ETFs. It May Leave Soon.
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Investors have a love-hate relationship with junk bonds these days.
After generally fleeing riskier debt since May, they’re now pouring cash in at a record pace -- at least judging by the biggest exchange-traded funds. Both BlackRock Inc. and State Street Corp.’s junk-bond ETFs, which oversee a combined $24.9 billion, received their largest daily inflows this week on record, according to data compiled by Bloomberg.