BlackRock Says ETFs Aided Bond Market Stability After Gross Exit

(Bloomberg) -- BlackRock, the world’s largest provider of ETFs, said the products acted as “shock absorbers” after Bill Gross’s unexpected exit last month from Pimco. 

The products facilitated trading and shed light on otherwise opaque pricing in the bond market, BlackRock said in a report posted yesterday on its website. Fixed-income ETFs grew by $20.4 billion this month through Oct. 29, showing they’re “becoming the place where bond investors are finding liquidity and price discovery,” according to BlackRock.