In case you are unaware that corporate bonds are blowing up…
IG, HY, and leveraged loans’ ETFs just had their largest monthly outflow in the history of the data.
The passive bubble is now bursting.
ETF providers are on the hook: $BLK $STT $IVZ
This mess has just started. pic.twitter.com/RctDFRP30c
— Otavio (Tavi) Costa (@TaviCosta) March 22, 2020
The distress ratio in US #leveragedloan segment is a sea of red now, led by airlines, oil & gas. Distress ratio = share of outstanding loans priced at less than 80 in trading market #COVIDー19 pic.twitter.com/QCVrAeZnQ9
— Leveraged Loans (@lcdnews) March 23, 2020