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Investors Are Pulling Funds Tied to 'the Agg' as Safe Bonds Look Anything But
BY CAROLYN CUI AND PATRICK MCGEE
The guiding star for many bond investors is starting to flicker.
The Barclays U.S. Aggregate Bond Index, known as "the Agg"—which tracks the broader debt market the way the Standard & Poors-500 follows stocks—declined 0.12% in the first quarter, its first negative return in that period since 2006.
And with many large investors yanking funds tied to the Agg, the index's flagging popularity is having repercussions for how hundreds of billions of dollars are allocated in fixed-income portfolios.
The move is perhaps the most stark indication yet that the safest bonds are scaring investors.
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