Earlier this month, data indicated that investors are flocking to bond exchange-traded funds, but one hedge fund firm continues to advise against following the crowd in this trend. State Street reported inflows of $7.4 billion into fixed income ETFs in June, compared to outflows of $5.8 billion for equity ETFs and $2.1 billion for commodity ETFs.
This isn't a new trend either. June marked the 35th month in a row in which bond ETFs recorded inflows, and the trend is on track to continue this month as well. Data from Bloomberg Intelligence pegs inflows to fixed-income ETFs at $4.6 billion already, and the month isn't over yet.
However, Black Bear Value Partners, led by Adam Schwartz, is sounding the alarm bells...
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