A recent article pointed out that bond ETFs are trading at significant discounts to their net asset values in many cases, making them like closed-end funds. While increased volatility in the stock market has gotten most the press, the volatility in fixed income has been equally significant, as we can see among municipal bonds (MUB; top chart); investment grade corporate bonds (LQD; middle chart); and 10-year Treasury yields ($TNX; bottom chart). Note how prices for muni and corporate bonds

A recent article pointed out that bond ETFs are trading at significant discounts to their net asset values in many cases, making them like closed-end funds. While increased volatility in the stock market has gotten most the press, the volatility in fixed income has been equally significant, as we can see among municipal bonds (MUB; top chart); investment grade corporate bonds (LQD; middle chart); and 10-year Treasury yields ($TNX; bottom chart). Note how prices for muni and corporate bonds