Bloomberg reported on Thursday that the largest exchange traded fund that holds junk bond assets is under heavy selling pressure. The iShares iBoxx $ High Yid Corp Bond (ETF) (NYSE: HYG) has seen $2.6 billion in outflows over the past four days while short interest in the ETF rose more than 80 percent since mid-April.
Bloomberg Intelligence's Eric Balchunas provided further commentary on the ETF during Friday's "Bloomberg Markets" segment.
Balchunas continued that the outflow of ...
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