Investors are moving out of the indexed high-yield bond market, which should set prices lower, Barron's
writes. SPDR Barclays Capital High Yield Bond ETF
] and iShares
iBoxx $High Yield Corporate Bond Fund's [profile
] prices were much lower than the funds' net asset values.
Since the indexed high-yield bond market is supposed to rise faster than the rest of the market when it's bullish, thanks to instant tradability, ETFs may be an "accelerant" for when the market turns bearish. If you subscribe to that theory, people should look to see if the same trend pans out in preferred stocks, Brendan Conway writes.
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