iShares 1-3 Year Treasury Bond ETF

SHY

Market cap $25.7B

Artificial intelligence, cryptocurrency and private markets have dominated ETF headlines this year, but one of the industry's fiercest battles is unfolding in a far less glamorous corner of the market: cash.

The Iran war has scrambled the old map of safety, leaving bond investors rethinking which havens still deserve the name. Perhaps the most surprising trend since the conflict began: bank loans have outperformed the rest of the field by a wide margin, based on a set of ETFs through yesterday's close (July 8).

Investors who pay close attention to the bond market generally monitor two interest rate benchmarks above all else.

Bond ETF inflows are running 60% ahead of last year's level, which was itself a record pace, a rise that a BlackRock executive described as "shocking" to CNBC. Elevated stock market volatility, a new Fed chair, and ongoing inflation fears are all part of the picture as investors in the market hunt for maximum "real yield.

The U.S. Federal Reserve is becoming tougher for Wall Street to forecast, with dramatically different views ​on where monetary policy is headed.

Lindsay Rosner, who runs multi-sector fixed income at Goldman Sachs Asset Management, went on CNBC this morning to translate

The early 1970s made for interesting times. Political turbulence amid the Vietnam War, cultural rebellion, and escapist entertainment were rampant.

On CNBC last week, Kate Rooney walked viewers through a number that should reframe how tech investors think about their portfolios.

Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."

The odds of rate hikes are rising as inflation stays hot. Traditional bond ETFs will struggle, but inflation-protected bond ETFs could thrive.