Record $3 Billion Exodus Hits Credit ETF in Abrupt Risk Reversal
- LQD sees biggest outflow since its debut amid hawkish Fedspeak
- Profit-taking likely underway as year-end approaches: Chatwell
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Risk appetite has suddenly soured on one of the biggest corporate credit exchange-traded funds.
More than $3 billion exited the $36 billion iShares iBoxx $ Investment Grade Corporate Bond ETF (ticker LQD) on Monday, Bloomberg data show. That’s the biggest one-day outflow since the fund’s inception in 2002.