Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS
8 CACS CPD Hours

15 November 2022 (Tuesday) | 9am-5pm

One of the largest credit ETFs, the iShares iBoxx Investment Grade Corporate Bond ETF (known as LQD) rose by the most in a year, as per Bloomberg. The ETF also saw its biggest 4-day rally since May 2020. On February 24, the ETF traded at 122.4 and closed on March 1 at 124.97, up 2% during the period. LQD, which has an AUM of over $36bn. Bloomberg notes that the move, being an unexpected rebound comes at a time when short interest (Term of the Day, explained below) was at an all-time high. Short interest has now eased from almost 27% of outstanding shares to about 21%. “Spreads have widened to a point where investment-grade credit once again offers at least something resembling relative value”, said Dan Krieter, a strategist at BMO Capital Markets.

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