Cut in the corporate tax rate makes state and local government debt less attractive to financial institutions.
His $2.1 billion bond fund fell about 3% Tuesday, leaving it trailing 96% of its rivals.
As interest rates head higher, sectors such as investment-grade debt and consumer staples companies are taking it on the chin.
The world's biggest bond ETF tracks a benchmark that contains 9,917 bonds, many of them illiquid.
Going forward, the fixed-income environment may favor more sophisticated active approaches, such as flexible 'best ideas' strategies.
Demand at short end could ease funding costs and make stocks look better by comparison.
New regulation requiring brokers to disclose their markup or markdown on corporate and municipal bonds goes into effect today.
Fixed-income expert on whether this is the beginning of a secular bear market in bonds.
At current levels, the market has already priced in three more Fed rate hikes, Jeff Moore argues.
Some institutional investors are turning cautious on company debt as Fed tightening hikes companies' borrowing costs.
Moves in Treasury yields are flashing yellow right now, but not yet red
Yields aren't likely to move substantially higher from current levels, bond guru says
Moves in Treasury yields are flashing yellow right now, but not yet red.
More than $14 billion flowed into exchange-traded debt funds in April.
Absalon Global High Yield, which beat 97% of its peers last year, is no longer buying triple-C credits.
Brokerage firms must start disclosing the fees they charge to buy and sell state and local government debt.
Brokerage firms must start disclosing the fees they charge to buy and sell state and local government debt.
Trade wars could lead to stagflation, Dan Fuss warns.
Equities are likely to put in a cyclical top later this year, analysts argue.
Investors flee high-yield bonds as interest rates rise.
