ETFs & Mutual Funds

Wild Week for Bond Market Spurs Record Trading Frenzy in ETFs

TLT in midst of record drawdown but sees biggest annual inflow
While high-yield ETFs see exodus, with $1 billion leaving HYG

Pimco co-founder Bill Gross says a 5% yield on the 10-year Treasury is a “decent, not great” value. He speaks during an interview with Katie Greifeld and Romaine Bostick on “BloombergMarkets: The Close.”

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Emily Graffeo and Vildana Hajric

October 5, 2023 at 3:42 PM UTC

This article is for subscribers only.

Bill Gross is right: bond ETF activity has been frenzied in the grip of Wall Street turmoil.

The violent selloff in the Treasury market has sent shockwaves through fixed-income funds across the spectrum, spurring a gush of trading in the largest exchange-traded funds, an exodus of cash from high-yield trades and fresh mania across the options market. The iShares iBoxx High Yield Corporate Bond ETF (HYG) alone saw $10 billion of shares change hands Wednesday, the most since its inception 16 years ago.