Investors have put a record amount of money into global bond exchange-traded products (ETPs) so far this year, attracted by the highest yields in more than a decade.
More than $235 billion flowed into global fixed income ETPs in the first three quarters of the year, well above the $170 billion seen in the same period in 2022, according to industry data gathered by BlackRock.
In July, bond ETFs surged to $2 trillion in assets under management for the first time. JPMorgan estimates the figure has increased roughly 20% each year over the past decade. The yield on the 10-year U.S. Treasury note stood at 4.1% at the end of September, up from around 1.3% in September 2021. Yields move inversely to prices.
Brett Pybus, global co-head of iShares fixed income ETFs for BlackRock, said the data showed "the increasingly important role fixed income is playing in portfolios at current yield levels and in navigating volatility."
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