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Bond ETFs Climb as the Fed Kicks Off Historic Purchase Program

U.S. corporate bond exchange-traded funds rose Tuesday after the Federal Reserve said it would begin purchases of the securities as part of its package of measures to support functioning of credit markets through the coronavirus pandemic.

A widely traded bond ETF, BlackRock’s iShares U.S. investment-grade corporate bond exchange-traded fund, advanced 1% in its biggest jump in over a month. The Vanguard Intermediate-Term Corporate Bond ETF climbed 0.5%, though some prominent ETFs that invest in junk-rated debt ended the session…

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