Keep pulling the thread on Stephen Laipply.
BlackRock's fixed income ETFs recently surpassed $1 trillion in assets under management.
BlackRock predicts the global fixed income ETF industry will grow from $2.8 trillion to $6 trillion in assets by the end of the decade.
BlackRock experienced its largest wave of adoption in fixed income ETFs during the COVID-19 market dislocation in February-March 2020.
On a recent day of market stress following tariff announcements, bond ETF trading volume on exchange set a new record of nearly $100 billion.
Wharton professor Jeremy Siegel predicted a "giant bout of inflation, maybe even double digits" shortly after the CARES Act passed, citing it as the largest fiscal stimulus as a percentage of GDP since World War II.
The market is currently pricing in a couple of Federal Reserve rate cuts by the end of the year and a couple more next year, implying a terminal rate of around 3.25% to 3.50%.
Ambiguity around the U.S. fiscal trajectory and the practice of running large deficits in a growing economy has created fear and upward pressure on the long end of the yield curve.
Barry Ritholtz argues that BlackRock's acquisition of Barclays Global Investors (BGI) was the single greatest acquisition in wealth management history.
The global fixed income ETF industry is currently at approximately $2.8 trillion in assets.
The largest waves of adoption for bond ETFs historically occur during periods of market stress.
A growing trend in portfolio construction is to use low-cost bond ETFs as the core of a portfolio, supplemented by individual bonds or active managers for specific tilts.
Some active fixed income managers appear to outperform their benchmark by holding a large allocation of high-yield bonds while being benchmarked against an index like the Aggregate, which contains none.