Investors Pour Billions To Aggressive Bond ETFs, Banking On Multiple Fed Rate Cuts in 2024
Investors Pour Billions To Aggressive Bond ETFs, Banking On Multiple Fed Rate Cuts in 2024
In recent weeks, several bond exchange-traded funds (ETFs) have experienced a significant surge in inflows, indicating a heightened interest among investors.
最近幾周，幾隻債券交易所交易基金（ETF）的流入量大幅增加，這表明投資者的興趣有所增加。
This shift coincided with a market that significantly upped bets on Federal Reserve rate cuts for 2024, backed by a robust and ongoing disinflationary trend in the U.S. economy.
這種轉變恰逢市場大幅提高了對美聯儲2024年降息的押注，這得益於美國經濟強勁而持續的反通貨膨脹趨勢。
Speculators have gone as far as factoring in an initial rate cut as early as March 2024, with whispers of a total of five rate cuts by December 2024.
投機者甚至將最早在2024年3月的首次降息考慮在內，他們低聲說到2024年12月總共將降息五次。
But which bond ETFs are currently piquing investors' interest?
但是，目前哪些債券ETF激起了投資者的興趣？
From 'Cash-Like' to 'Equity-Like'
從 “類現金” 到 “類股票”
While the third quarter in 2023 witnessed a notable uptick in inflows into cash-linked bond ETFs, primarily those investing in short-dated Treasury bonds and bills, the latest trends are veering towards more aggressive fixed-income strategies.
儘管2023年第三季度現金掛鉤債券ETF（主要是投資於短期國債和票據的ETF）的流入量顯著增加，但最新的趨勢正在轉向更激進的固定收益策略。
Investors are strategically positioning themselves in anticipation of an imminent U-turn in Fed's monetary policy stance, eyeing a select group of bond ETFs that have weathered the storm during the recent spate of interest rate hikes.
投資者正在進行戰略定位，因爲預計美聯儲的貨幣政策立場即將出現掉頭，他們將目光投向了在最近一連串的加息中渡過難關的精選債券交易所買賣基金。
Their bullish stance on riskier bond ETFs underscores a burgeoning belief that the bond market landscape could undergo a substantial recalibration in the coming months, as they brace for a more accommodating monetary policy environment.
他們對風險較高的債券交易所買賣基金的看漲立場凸顯出人們越來越強烈的信念，即在爲更加寬鬆的貨幣政策環境做準備的同時，債券市場格局可能會在未來幾個月內經歷重大調整。
These ETFs encompass a diverse range, including long-term Treasury bonds, emerging-market bonds, and high-yield corporate bonds.
這些交易所買賣基金涵蓋多種類別，包括長期國債、新興市場債券和高收益公司債券。
Top 10 Bond ETFs by Fund Inflows in the Past Month
過去一個月按資金流入量排名前十的債券ETF
| Name | Fund Flows (1-month) |
|---|---|
| iShares Trust – iShares iBoxx $ High Yield Corporate Bond ETF (NYSE:HYG) | $3.69 bn |
| iShares Trust – iShares Core U.S. Aggregate Bond ETF (NYSE:AGG) | $2.62 bn |
| SPDR Series Trust – SPDR Bloomberg High Yield Bond ETF (NYSE:JNK) | $1.99 bn |
| iShares Trust – iShares J.P. Morgan USD Emerging Markets Bond ETF (NASDAQ:EMB) | $1.89 bn |
| iShares Trust – iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) | $1.62 bn |
| Vanguard Bond Index Funds – Vanguard Total Bond Market ETF (NASDAQ:BND) | $1.56 bn |
| iShares Trust – iShares Broad USD High Yield Corporate Bond ETF (NYSE:USHY) | $1.31 bn |
| Vanguard Scottsdale Funds – Vanguard Long-Term Treasury ETF (NASDAQ:VGLT) | $665.99 bn |
| Vanguard Charlotte Funds – Vanguard Total International Bond ETF (NASDAQ:BNDX) | $641.06 bn |
| iShares Trust – iShares 5-10 Year Investment Grade Corporate Bond ETF (NYSE:IGIB) | $216.67 bn |
| 姓名 | 資金流量（1 個月） |
|---|---|
| iShares Trust — iShares iboxX $高收益公司債券ETF（紐約證券交易所代碼：HYG） | 36.9 億美元 |
| iShares Trust — iShares Core 美國綜合債券ETF（紐約證券交易所代碼：AGG） | 26.2 億美元 |
| SPDR 系列信託 — SPDR 彭博高收益債券交易所買賣基金（紐約證券交易所代碼：JNK） | 19.9 億美元 |
| iShares Trust — iShares 摩根大通美元新興市場債券ETF（納斯達克股票代碼：EMB） | 18.9 億美元 |
| iShares Trust — iShares 20年期以上國債ETF（納斯達克股票代碼：TLT） | 16.2 億美元 |
| 先鋒債券指數基金 — Vanguard Total Bond Market ETF（納斯達克股票代碼：BND） | 15.6 億美元 |
| iShares Trust — iShares Broad 美元高收益公司債券ETF（紐約證券交易所代碼：USHY） | 13.1 億美元 |
| Vanguard 斯科茨代爾基金 — Vanguard 長期國債ETF（納斯達克股票代碼：VGLT） | 6659.9 億美元 |
| 先鋒夏洛特基金 — Vanguard Total 國際債券ETF（納斯達克股票代碼：BNDX） | 6410.6 億美元 |
| iShares Trust — iShares 5-10 年期投資級公司債券ETF（紐約證券交易所代碼：IGIB） | 2166.7 億美元 |
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Photo: Shutterstock
照片：Shutterstock
譯文內容由第三人軟體翻譯。