Bond ETFs turn one trillion.
The amount of money in fixed-income exchange-traded funds passed $1 trillion last month, an ascendance that has reshaped the market in which countries and companies raise money to pay their bills....
"In June, The Wall Street Journal sat down with one of the biggest beneficiaries of the bond ETF boom: Rob Kapito, president of BlackRock. When asked about the liquidity-crunch criticism bond ETFs most often get, Mr. Kapito responded with an eye roll.
"Mr. Kapito made little effort to conceal his derision for armchair alarmists.
“'A lot of your colleagues have been trying to find a fault with this thing,' Mr. Kapito said. 'It’s a pent-up desire that hasn’t been fulfilled, because it actually works.'”