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Bond Market News
US Bond ETFs See Record Inflows in July
August 2, 2024
Bond funds saw record inflows of about $39bn in July, the most on record, as per data from Strategas. This comes amid a rally in US Treasuries where the 2Y and 10Y yields have fallen 46bp and 34bp respectively in July on the back of softer economic data and more rate cuts being priced by markets. “People want bonds…. (investors are) trying to take advantage of rates starting to move lower, so you get the price appreciation part”, said Todd Sohn, an ETF strategist at Strategas. In July, the iShares Core US Aggregate Bond ETF saw more than $2bn in inflows and the iShares Broad USD High Yield Corporate Bond ETF saw a massive $2.9bn inflow (as seen in the chart below). Bloomberg also notes that corporate bond trading volumes have surged with recent demand overtaking even the increased pace of new debt issuances. This is said to have driven money managers to secondary market to get the securities they want to buy.
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