Bonds

A severe recession could be enough to completely wipe out the capital and surplus of four insurance firms as well as hobble a handful of others, the NAIC finds.

The central bank is now the third largest holder of the $54 billion iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD).

One strategist — who last month warned about owning stocks — said that he now believes he was “far too cautious” during the current market rally.

Total assets held by the central bank rose to a record $7.04 trillion in the week through May 20.

Corporate-debt funds have led the intake since the central bank first announced its Secondary Market Corporate Credit Facility in March.

The central bank plans to make both outright purchases of corporate bonds as well as funds potentially invested in sub-investment grade debt.

Fixed-income ETFs — for the most part — passed their first big test, but it was a roller-coaster ride along the way.

The central bank said it “will generally not purchase shares of an ETF that are trading at a premium” of 1% above its net asset value.

The manager may collect over $4 million per year for managing a separate portfolio of commercial mortgage-backed securities issued by government agencies.

Asset managers may need to reassess the assumption that’s become widely held in recent years: that inflation is dead.

The iShares fund saw the second-biggest inflow in its 18-year history after the central bank said it would begin buying corporate bonds and credit ETFs.

After becoming unmoored in recent weeks as bond market liquidity dried up, funds that stand to benefit from the central bank’s buying are now rallying.

Bear markets come with checklists of savvy moves to make for investment portfolios.

The funds are trading at staggering discounts to their net asset values in what some have dubbed an “illiquidity doom loop.”

Five of the top seven performers this year carry AA ratings.

The fund paid out about $150 billion in redemptions Thursday, all in cash.

An imagined conversation with the legendary Vanguard founder about the coronavirus market crash.

“Americans need to know they have access to their money," Treasury Secretary Steven Mnuchin said.

The negative superlatives for American stocks are piling up.

Lenders have been ringing up investment firms and hedge funds to garner interest in financing to companies in industries upended by the coronavirus.