Investors take profit on corporate bond ETFs

Investors spent last week taking profit from positions built up in corporate bond ETFs following good performance through the year. iShares saw over €100m redeemed in its Markit iBoxx Euro Corporate Bond, Markit iBoxx $ Corporate Bond and GBP Corporate Bond ETFs. Increased confidence that Europe's debt problems will not affect the global economy, global retail sales and an improved rate of home purchases in the US are all helping to revive the bond market. As corporate earnings surge and the economic recovery continues, Moody's reported in November that global junk-grade default rates...