Corporate Bonds

Despite smaller growth amid the coronavirus last year, FP’s 36th annual survey revealed the significant level of business raked in by 46 wealth managers.

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

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.

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.

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.

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

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

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

The bloodbath in risk assets has intensified on deepening concerns about the economic fallout from the spread of the coronavirus.

Buyers yanked $2.9 billion from the sector in the final days of January, nearly wiping out gains so far this year, data show.

The downside for their clients, however, is it may obscure just how much credit risk they’re exposing themselves to.

The only remaining founder of GSO Capital has left to build a family office and find new opportunities to spend the wealth he’s amassed over 35 years.

The simple addition of an exclamation mark to the names of some mutual funds led to significant declines in net flows, researchers find.

The decision marks a shift for firm, which has largely ridden its equity-fund offerings.

The math wizards of the investment world are hoping to disrupt the established giants of the trillion-dollar credit market.

An AQR executive just sketched a blueprint for traders seeking to hitch a high-octane ride on the global credit cycle.