NEW YORK (Reuters) - U.S. corporate credit exchange-traded funds fell to their lowest in roughly a decade on Thursday morning as Wall Street tumbled, unimpressed with global central banks’ stimulus measures to counter the economic effects of the coronavirus.
The iShares iBoxx High Yield Corporate Bond ETF (HYG.P) fell to fresh 11-year lows, before paring some of those losses, and was last down 1.78% to $71.70. The SPDR Bloomberg Barclays High Yield Bond ETF (JNK.P) made similar moves, also touching an 11-year low, and was last down 1.63% to $88.65.
The safer investment-grade sector was also hit on Thursday morning. The iShares iBoxx Investment Grade Corporate Bond ETF (LQD.P) fell to fresh nine-year lows, last down 2.23%. The PIMCO Investment Grade Corporate Bond Index ETF (CORP.K) fell to the lowest since 2013 and was last down 3.22%.
Reporting by Kate Duguid, Editing by Franklin Paul