Junk-Bond Fund Draws $622 Million as Negative Yields Go Global
- HYG, the largest high-yield ETF, had a record month in June
- ‘Fairly limited’ options push investors to junk debt: Samana
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Photographer: Michael Nagle/BloombergThis article is for subscribers only.
As investors await a Federal Reserve rate cut as soon as this month, yield-seekers are finding refuge in U.S. exchange-traded funds.
The $19 billion iShares iBoxx High Yield Corporate Bond ETF, known by its ticker HYG, took in more than $622 million on Friday, the largest addition to the fund in a month, data compiled by Bloomberg show. The latest interest in riskier corporate debt follows a pick-up in demand last month, when almost $3 billion poured into the ETF, delivering its best month of inflows on record.