IGIB

iShares 5-10 Year Investment Grade Corporate Bond ETF (IGIB) - $0.1181.30-Day SEC Yield of 1.76% as of Feb 25.Payable Mar 05; for shareholders of record Mar 02; ex-div Mar 01.

Fund investors were net redeemers of money market and equity funds during the week, withdrawing $9.3 billion and $5.7 billion, respectively, while being net purchasers of taxable fixed-income funds (+$6.8 billion) and municipal bond funds (+$607 million) this week.U.S. markets finished in the red for the fund flows week as investors evaluated the impact of an increasing number of COVID-19 cases, the lack of agreement on another round of fiscal stimulus on Capitol Hill, and the upcoming presidential election on the market and general economy.On the domestic side, the NASDAQ Composite Price Only Index (-2.41%) suffered the largest declines for the fund flows week of the broadly followed U.S. indices, while the Dow Jones Industrial Average Price Only Index (-1.06%) did the best job mitigating losses.

The sudden stop to markets induced by COVID-19 caused a substantial repricing of credit risk globally, and central banks, treasuries, and ministries of finance around the world responded unequivocally.As central banks eased liquidity concerns and governments alleviated solvency risks through a massive fiscal response, credit spreads tightened rapidly within more defensive sectors.The focus now is on the economic cycle, as basic industries, capital goods, energy, and other cyclical sectors in both developed and emerging markets are still trading at spreads wide to historical levels, particularly in the lower-quality segments of the market.

We downgrade investment grade credit to neutral and increase our overweight in high yield as we see volatility rising after a rally in risk assets.Negotiations over a new U.S. fiscal package looked to have stalled. We still expect a sizable package, but risks of a no-deal outcome are growing.Markets will focus on the European Central Bank’s updated projections and any policy implications. The traditional U.S. election campaign season kicks off.

The Federal Reserve's plan to hoover up $750 billion in bond funds could have some serious long-term consquences.

The Federal Reserve's plan to hoover up $750 billion in bond funds could have some serious long-term consquences.