{"id":135605,"date":"2026-01-23T17:35:16","date_gmt":"2026-01-23T22:35:16","guid":{"rendered":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/"},"modified":"2026-01-23T17:39:06","modified_gmt":"2026-01-23T22:39:06","slug":"indices-2026-outlook-fixed-income","status":"publish","type":[3762],"link":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/","title":{"rendered":"Indices 2026 outlook: Fixed income"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d10457439c1'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div>\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\t\t\t<\/div>\n\n\t\t\t<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Indices 2026 outlook: Fixed income<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/category\/trading\/\" rel=\"category tag\">\n                    Trading\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/429775502-resiz.jpg\" class=\"bbg-single-image__image attachment-full\" alt=\"Asset chart\" title=\"Asset chart\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d104574d776'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">January 23, 2026<\/p>\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><strong>Bloomberg Professional Services<\/strong><\/p>\n\t\t\t<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    \t\t<div class=\"bb-tts\" \n\t\t\tdata-selector=\"main\"\n\t\t\tdata-label=\"Speak this page\"\n\t\t\tdata-custom-play=\"Play\"\n\t\t\tdata-custom-pause=\"Pause\"\n\t\t\tdata-custom-stop=\"Stop\" \n\t\t\tdata-overlay=\"false\" \n\t\t\tdata-invert=\"false\"\n\t\t\tdata-no-time=\"false\"\n\t\t\tdata-no-button-text=\"false\"\n\t\t\tdata-one-button=\"true\"\n\t\t\tdata-one-style=\"true\"\n\t\t\tdata-hide-stop=\"true\"\n\t\t\tdata-voice=\"Gordon\"\n\t\t\tdata-pitch=\"1\"\n\t\t\tdata-speed=\"1\"\n\t\t\tdata-align=\"flex-start\"\n\t\t>\n\t\t<\/div>\n\t\t\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none row-padding--bottom-compact bbg-row--full-bg-bleed' data-anchor='row-69d104574f414'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--has-bg-color\"\n    style=\"background-color:#e6f3ff;border-radius: 16px 16px 16px 16px;\"\n    >\n    <div class=\"wpb_content_element bbg-card  bbg-card-custom bbg-card-text-black\" id=\"card_1\" data-card_type=\"no_image\">\n      <style>#card_1 .bbg-card__innerwrapper {background-color: #e6f3ff;}#card_1 .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1:hover .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1 .bbg-card__innerwrapper {\n\tpadding: calc(var(--brand-large-padding, 40px) - 1px) !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__title {\n\tcolor: #000000 !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__content,#card_1 .bbg-card__innerwrapper .bbg-card__content p  {\n\tcolor: #000000 !important;\n\t}#card_1.bbg-card_hasImage .bbg-card__innerwrapper{padding-top: calc(var(--brand-default-padding, 16px) - 1px);padding-left: calc(var(--brand-default-padding, 16px) - 1px);padding-right: calc(var(--brand-default-padding, 16px) - 1px);}<\/style>\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n              <div class=\"bbg-card__eyebrow\" style=\"color: #000000\">KEY TAKEAWAYS<\/div>\n      \n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><\/p>\n<ul>\n<li><span data-contrast=\"none\"> Momentum in 2026 is supported by index\u00a0methodologyenhancements, expanded asset class coverage, and continued investment in scalable fixed income index infrastructure.<\/span><\/li>\n<li><span data-contrast=\"none\"> Growth in passive ETFs, evolving issuance patterns, and changing rate expectations are increasing demand for transparent, rules-based benchmarks across duration, geography, and alternative beta strategies.<\/span><\/li>\n<\/ul>\n<p>\n<\/div>\n          <\/div>\n\n      <\/div>\n\n  <\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed' data-anchor='row-69d1045752525'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    \t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span class=\"TextRun SCXW189821550 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW189821550 BCX0\">With themes such as private credit and artificial intelligence dominating headlines, and\u00a0<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">factors<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">\u00a0such as tariffs and monetary policy\u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW189821550 BCX0\">swinging<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">\u00a0markets, global bond markets churned out positive returns across asset classes and regions<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">\u00a0last year<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW189821550 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">Emerging Markets led the way with a\u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW189821550 BCX0\">return<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">\u00a0over 12% in the EM Hard Currency Aggregate index.<\/span><span class=\"LastReplacedFindHitThemed SCXW189821550 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">See\u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW189821550 BCX0\">our<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\">\u00a0<\/span><\/span><a class=\"Hyperlink SCXW189821550 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/looking-back-at-2025-fixed-income\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW189821550 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW189821550 BCX0\" data-ccp-charstyle=\"Hyperlink\">previous<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\" data-ccp-charstyle=\"Hyperlink\">\u00a0<\/span><span class=\"NormalTextRun SCXW189821550 BCX0\" data-ccp-charstyle=\"Hyperlink\">post<\/span><\/span><\/a><span class=\"TextRun SCXW189821550 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW189821550 BCX0\">\u00a0for a deep dive on 2025 performance.<\/span><span class=\"LastReplacedFindHitThemed SCXW189821550 BCX0\">\u00a0<\/span><\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d1045753f45'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div>\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px;\">PRODUCT MENTIONS<\/span><\/strong><\/p>\n\t\t\t<\/div>\n\n\t\t\t\n<div\n  id=\"cta_1574734633421020984\"\n  class=\"wpb_content_element bbg-cta no-icon\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p left\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/fixed-income\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"Bloomberg Fixed Income Indices\"\n        >\n                      Bloomberg Fixed Income Indices\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-1\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6\"\n    style=\"\"\n    >\n    \t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span class=\"TextRun SCXW207406446 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW207406446 BCX0\">We expect 2026 to be<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">\u00a0another ground-breaking\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">year<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">for Bloomberg fixed income indices.<\/span><span class=\"LastReplacedFindHitThemed SCXW207406446 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">T<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">he\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">strategic investments\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">we\u2019ve<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">\u00a0recently made\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">coupled with\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">potential\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">regulatory<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">\u00a0tailwinds\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">make us optimistic for\u00a0<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">the year ahead<\/span><span class=\"NormalTextRun SCXW207406446 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW207406446 BCX0\">\u00a0<\/span><\/span><span class=\"EOP SCXW207406446 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d10457579fb'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    \t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<div class=\"text-base my-auto mx-auto pb-10 &#091;--thread-content-margin:--spacing(4)&#093; @w-sm\/main:&#091;--thread-content-margin:--spacing(6)&#093; @w-lg\/main:&#091;--thread-content-margin:--spacing(16)&#093; px-(--thread-content-margin)\">\n<div class=\"&#091;--thread-content-max-width:40rem&#093; @w-lg\/main:&#091;--thread-content-max-width:48rem&#093; mx-auto max-w-(--thread-content-max-width) flex-1 group\/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn\" tabindex=\"-1\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal &#091;.text-message+&amp;&#093;:mt-1\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"c4f7aad9-40b3-4427-a0e0-07be70fce297\" data-message-model-slug=\"gpt-5-2\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-&#091;1px&#093;\">\n<div class=\"markdown prose dark:prose-invert w-full wrap-break-word light markdown-new-styling\">\n<p data-start=\"0\" data-end=\"251\" data-is-last-node=\"\" data-is-only-node=\"\">Note, this outlook focuses on industry trends and business updates. Several fixed income outlook reports, including the US Treasury Index Outlook, US IG Corporate Index Outlook, and US MBS Index Outlook, can be accessed via the Bloomberg Terminal.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\t\t\t<\/div>\n\n\t\t\t\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed' data-anchor='row-69d104575902f'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_2\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Tailored indices insights and invitations in your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_4049843461999598959\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/explore\/indices-insights-tailored-to-your-interests\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed' data-anchor='row-69d104575c645'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    \t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2><span class=\"TextRun SCXW13099951 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW13099951 BCX0\">Enhancements<\/span><span class=\"NormalTextRun SCXW13099951 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW13099951 BCX0\">and<\/span><span class=\"NormalTextRun SCXW13099951 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW13099951 BCX0\">e<\/span><span class=\"NormalTextRun SCXW13099951 BCX0\">xpansion<\/span><\/span><span class=\"EOP SCXW13099951 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span class=\"TextRun SCXW216374617 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW216374617 BCX0\">Following the<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">\u00a0full<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">\u00a0release of our Index Factory production\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">system\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">in 2024,\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">Bloomberg has been\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">focused on\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">both\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">enhancing capabilities and\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">expanding coverage<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW216374617 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">In terms of\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">methodology<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">enhance<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">ments, the recent rollout of\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">the\u00a0<\/span><\/span><a class=\"Hyperlink SCXW216374617 BCX0\" href=\"https:\/\/assets.bbhub.io\/professional\/sites\/27\/2025_02_06-Month-End-Freeze-Update1.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW216374617 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW216374617 BCX0\" data-ccp-charstyle=\"Hyperlink\">month-end lockout<\/span><\/span><\/a><span class=\"TextRun SCXW216374617 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW216374617 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">has<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">\u00a0provide<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">d<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">\u00a0more stability in index membership and certainty as to which bonds qualify\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">for the next rebalance.<\/span><span class=\"LastReplacedFindHitThemed SCXW216374617 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">Additionally, we are\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">making progress on\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">the implementation of alternative pricing snaps and will\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">then turn\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">our\u00a0<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">attention to turnover analysis<\/span><span class=\"NormalTextRun SCXW216374617 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW216374617 BCX0\">\u00a0<\/span><\/span><span class=\"EOP SCXW216374617 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span class=\"TextRun SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW222744584 BCX0\">From an asset class perspective,\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">our ongoing aim is to provide<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0comprehensive coverage of the fixed income landscape<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW222744584 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">In July, we expanded our offering into a key asset class w<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">ith the introduction of\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">the\u00a0<\/span><\/span><a class=\"Hyperlink SCXW222744584 BCX0\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-broadens-leveraged-loan-indices-and-data-solutions-to-european-and-global-markets\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW222744584 BCX0\" data-ccp-charstyle=\"Hyperlink\">G<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\" data-ccp-charstyle=\"Hyperlink\">lobal\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\" data-ccp-charstyle=\"Hyperlink\">L<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\" data-ccp-charstyle=\"Hyperlink\">everaged\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\" data-ccp-charstyle=\"Hyperlink\">L<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\" data-ccp-charstyle=\"Hyperlink\">oan<\/span><\/span><\/a><span class=\"TextRun SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0indices<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW222744584 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">From there<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">, we\u00a0<\/span><\/span><a class=\"Hyperlink SCXW222744584 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/trading\/bloomberg-indices-launches-bloomberg-us-total-fixed-income-market-index-to-capture-the-full-investable-us-fixed-income-universe\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW222744584 BCX0\" data-ccp-charstyle=\"Hyperlink\">launched<\/span><\/span><\/a><span class=\"TextRun SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0the\u00a0<\/span><\/span><span class=\"TextRun SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW222744584 BCX0\">US Total Fixed Income Market Index<\/span><\/span><span class=\"TextRun SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0(ticker: TOTALFI) to capture the full breadth of taxable fixed income and reflect the evolved investment universe<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW222744584 BCX0\">\u00a0<\/span><\/span><\/p>\n<p><span class=\"TextRun SCXW222744584 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW222744584 BCX0\">This new benchmark is an excellent example of the scalable solutions we can bring to\u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW222744584 BCX0\">market<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW222744584 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">Bloomberg is\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">well<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">positioned with both the building blocks and infrastructure to publish the broadest fixed income indices<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW222744584 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">We have invested heavily in\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">modernizing\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">index production\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">over recent years, and\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">indices such as TOTALFI are the result as\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">we<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0now<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0can<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0seamlessly combine asset classes and\u00a0<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">marry<\/span><span class=\"NormalTextRun SCXW222744584 BCX0\">\u00a0analytics.<\/span><\/span><span class=\"EOP SCXW222744584 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1204\" height=\"787\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-1-FIX.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Bloomberg Index Browser on the Bloomberg Terminal\" title=\"Bloomberg Index Browser on the Bloomberg Terminal\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-1-FIX.png 1204w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-1-FIX.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-1-FIX.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-1-FIX.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-1-FIX.png 165w\" sizes=\"auto, (max-width: 1204px) 100vw, 1204px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span style=\"font-weight: 400;\">In addition to adding asset classes, we need to ensure that our indices keep up with issuance trends and reflect the current market. This is especially true for Securitized Products such as ABS and CMBS. For example, there has been a significant increase in Single Asset Single Borrower (SASB) CMBS issuance. As a result, we are planning to expand coverage with a new US CMBS SASB Index later this year that would be part of a broader CMBS Index and potentially be considered for inclusion in some broad-based indices.\u00a0 <\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1160\" height=\"746\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-2-FIX.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Annual Non-Agency CMBS Issuance in $Bn (Conduit vs SASB)\" title=\"Annual Non-Agency CMBS Issuance in $Bn (Conduit vs SASB)\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-2-FIX.png 1160w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-2-FIX.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-2-FIX.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-2-FIX.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-2-FIX.png 168w\" sizes=\"auto, (max-width: 1160px) 100vw, 1160px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span style=\"font-weight: 400;\">Lastly, we are exploring options for benchmarks in private credit. In some ways, a private credit index seems like an oxymoron as the private market is generally more opaque whereas indices are inherently transparent. But as the public and private markets converge, there is likely to be more transparency into private credit and ultimately better price discovery. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">High quality data and accurate pricing are prerequisites for any robust benchmark, and we will continue to monitor the developments in this space. In the meantime, we recently created a <\/span><a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/bdc-issued-debt-a-public-window-into-private-credit-issuers\/\"><span style=\"font-weight: 400;\">US BDC<\/span><\/a><span style=\"font-weight: 400;\"> index that provides a view into private credit issuers as a proxy.\u00a0 <\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2><span class=\"TextRun SCXW60342504 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW60342504 BCX0\">ETF\u00a0<\/span><span class=\"NormalTextRun SCXW60342504 BCX0\">f<\/span><span class=\"NormalTextRun SCXW60342504 BCX0\">renzy<\/span><span class=\"NormalTextRun SCXW60342504 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW60342504 BCX0\">to\u00a0<\/span><span class=\"NormalTextRun SCXW60342504 BCX0\">c<\/span><span class=\"NormalTextRun SCXW60342504 BCX0\">ontinue<\/span><\/span><span class=\"EOP SCXW60342504 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span style=\"font-weight: 400;\">In recent years, one could argue the success of index providers has been closely linked to the ETF market. Exchange traded funds are now a strong preference for new strategies with a record year in launches, flows and volume. Although it may seem difficult to repeat such a strong year, the recent SEC approval for issuers to add share classes may potentially result in another wave of ETFs going live. Some issuers may take a pause to focus on gathering assets instead of being in constant launch mode. <\/span><\/p>\n<p><span class=\"TextRun SCXW235286003 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW235286003 BCX0\">W<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">e\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">anticipate<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">active launches to continue to outpace passive but flows\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">likely to\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">continue to be dominated by cheap beta<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW235286003 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">Indeed, there are now\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">1650<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">\u00a0passive fixed income ETFs with\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">a third of them\u00a0<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">tracking a Bloomberg index<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">\u00a0(see chart below)<\/span><span class=\"NormalTextRun SCXW235286003 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW235286003 BCX0\">\u00a0<\/span><\/span><span class=\"EOP SCXW235286003 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1108\" height=\"965\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-3-FIX.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Passive Fixed Income ETFs Over Time\" title=\"Passive Fixed Income ETFs Over Time\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-3-FIX.png 1108w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-3-FIX.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-3-FIX.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-3-FIX.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-3-FIX.png 124w\" sizes=\"auto, (max-width: 1108px) 100vw, 1108px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2><span class=\"TextRun SCXW248892094 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW248892094 BCX0\">Active launches but\u00a0<\/span><span class=\"NormalTextRun SCXW248892094 BCX0\">p<\/span><span class=\"NormalTextRun SCXW248892094 BCX0\">assive flows<\/span><\/span><span class=\"EOP SCXW248892094 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span class=\"TextRun SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56293566 BCX0\">With over 50 years of history<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">,\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">Bloomberg is<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">a leading index provider\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">with 55% of\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">total passive AUM tracking a Bloomberg fixed income index<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">Although active launches have picked up recently,\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">passive makes up 83% of total fixed income ETF assets and\u00a0<\/span><span class=\"NormalTextRun AdvancedProofingIssueV2Themed SCXW56293566 BCX0\">the majority of<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0flows\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">in 2025 went<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">into passive by a 2:1 ratio<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">In fact, the\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">six funds with the\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">highest flows in 2025 are all passive and four of them track a Bloomberg index<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">Similarly, the\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">t<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">op two\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">fixed income\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">ETFs launched in 2025 (SPP5, VBIL) are passively tracking<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">a Bloomberg index<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0and the top three\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">new\u00a0<\/span><\/span><span class=\"TextRun SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56293566 BCX0\">passive<\/span><\/span><span class=\"TextRun SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">fixed income ETFs\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">are benchmarked to a Bloomberg index<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0(see\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">chart\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">below)<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW56293566 BCX0\">\u00a0<\/span><\/span><\/p>\n<p><span class=\"TextRun SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56293566 BCX0\">Although bond\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">indices appear easier for active managers to outperform,\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">once compared to\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">an appropriate\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u201ctechnical\u201d<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">index,\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">our\u00a0<\/span><\/span><a class=\"Hyperlink SCXW56293566 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/behind-the-benchmark-dissecting-active-bond-fund-performance\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW56293566 BCX0\" data-ccp-charstyle=\"Hyperlink\">research<\/span><\/span><\/a><span class=\"TextRun SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0shows that\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">only\u00a0<\/span><\/span><span class=\"TextRun SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56293566 BCX0\">22% of funds<\/span><\/span><span class=\"TextRun SCXW56293566 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">have<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0performed better than<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">their benchmarks over the past 10 years<\/span><span class=\"NormalTextRun SCXW56293566 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW56293566 BCX0\">\u00a0<\/span><\/span><span class=\"EOP SCXW56293566 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t<div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1102\" height=\"929\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-4-FIX.png\" class=\"bbg-single-image__image attachment-full\" alt=\"Largest Passive ETFs Launched in 2025\" title=\"Largest Passive ETFs Launched in 2025\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-4-FIX.png 1102w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-4-FIX.png 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-4-FIX.png 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-4-FIX.png 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Fig-4-FIX.png 128w\" sizes=\"auto, (max-width: 1102px) 100vw, 1102px\" \/>\n        \n            <\/figure>\n<\/div>\n\n\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2><span class=\"TextRun SCXW252071153 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW252071153 BCX0\">Mone<\/span><span class=\"NormalTextRun SCXW252071153 BCX0\">tary\u00a0<\/span><span class=\"NormalTextRun SCXW252071153 BCX0\">p<\/span><span class=\"NormalTextRun SCXW252071153 BCX0\">olicy\u00a0<\/span><span class=\"NormalTextRun SCXW252071153 BCX0\">i<\/span><span class=\"NormalTextRun SCXW252071153 BCX0\">mplications<\/span><\/span><span class=\"EOP SCXW252071153 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span style=\"font-weight: 400;\">One of the biggest themes of the past couple years has been the surge in assets invested in money market funds. With risk-free rates at recent highs, investors were happy to collect their 4-5% returns as the macroeconomic landscape seemed uncertain. However, with three rate cuts in four months, the Fed funds rate now sits at 3.75% and may result in flows out of money market funds as investors extend duration into the belly of the curve or intermediate maturities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There was an uptick in US Treasury launches this year both domestically and internationally, so ETF providers seem well positioned to offer investors solutions for moving out on the curve. On the other hand, we\u2019ve also noticed an increase in global ETF strategies that exclude the United States suggesting a preference for different geographic exposures.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h2><span class=\"TextRun SCXW180491131 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW180491131 BCX0\">Standing\u00a0<\/span><span class=\"NormalTextRun SCXW180491131 BCX0\">o<\/span><span class=\"NormalTextRun SCXW180491131 BCX0\">ut in the\u00a0<\/span><span class=\"NormalTextRun SCXW180491131 BCX0\">c<\/span><span class=\"NormalTextRun SCXW180491131 BCX0\">rowd<\/span><\/span><span class=\"EOP SCXW180491131 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n\t\t\t<\/div>\n\n\t\t\t\t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<p><span class=\"TextRun SCXW38994710 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW38994710 BCX0\">In an increasingly crowded ETF market<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0with almost 40 new ETF providers in 2025<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">, some issuers have sought to\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">stand out by\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">targeting specific exposures or\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">alternative beta<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">The former can take many forms from\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">narrowing the investment universe\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">to\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">building a basket of\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">similar\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">issuers<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0with a common theme<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">We\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">haven\u2019t<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0yet seen thematics take off in fixed income, but this could change as\u00a0<\/span><span class=\"NormalTextRun AdvancedProofingIssueV2Themed SCXW38994710 BCX0\">more and more<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0products\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">flood the\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">market<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">A recent example is the RBIL fund\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">that only\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">holds\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">ultrashort TIPS to\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">achieve a\u00a0<\/span><\/span><a class=\"Hyperlink SCXW38994710 BCX0\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/tips-for-tips-ultrashort-maturities-for-inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun Underlined SCXW38994710 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW38994710 BCX0\" data-ccp-charstyle=\"Hyperlink\">better hedge<\/span><\/span><\/a><span class=\"TextRun SCXW38994710 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0for inflation<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">Another way\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">for ETF providers to differentiate is via alternative sources of beta<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">This can be as simple as changing the weighting scheme or\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">goal-based strategies<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0or even optimization<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><\/span><\/p>\n<p><span class=\"TextRun SCXW38994710 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW38994710 BCX0\">But c<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">hoosing the right index partner is paramount<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">Bloomberg<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">is\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">well-positioned to collaborate\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">with clients to\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">transform<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0their investment ideas\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">into rules-based\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">indices<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0via our flexible architecture<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">For example, we can\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">access thousands of data fields on the terminal and onboard\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">for\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">inclusion in index queries<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">We create dozens of new custom indices every month, and we look forward to\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">continued\u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW38994710 BCX0\">partnership<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">\u00a0to\u00a0<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">bring new index strategies to life<\/span><span class=\"NormalTextRun SCXW38994710 BCX0\">.<\/span><span class=\"LastReplacedFindHitThemed SCXW38994710 BCX0\">\u00a0<\/span><\/span><span class=\"EOP SCXW38994710 BCX0\" data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n\t\t\t<\/div>\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<style>section[data-anchor=row-69d1045768130]::before {\n\t\t\t\tbackground-color: #f4f4f9;\n\t\t\t}<\/style>\t<section\n\tclass='bbg-row bg--custom-color  bg--f4f4f9 text--black bbg-row--full-bg-bleed' data-anchor='row-69d1045768130'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<p><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    \t\t\t<div\n\t\t\tclass='bb-wysiwyg ' style=''>\n\t\t\t<h3>Related Content<\/h3>\n\t\t\t<\/div>\n\n\t\t\t\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-4 bbg-column--halign-right\"\n    style=\"\"\n    >\n    \n<div\n  id=\"cta_704271508799400300\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/tag\/indices\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"View all\"\n        >\n                      View all\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <script>\n    window.feed = window.feed || {};\n    window.feed['69d104576a2c2'] = {\"config\":{\"uuid\":\"\",\"title\":\"\",\"filter_label\":\"\",\"post_type\":\"post\",\"order_by\":\"date\",\"direction\":\"desc\",\"show_date\":\"no\",\"show_excerpt\":\"no\",\"display\":\"limit\",\"filter\":\"OR\",\"max_items\":\"3\",\"skip_cache\":\"no\",\"feed_style\":\"grid\",\"published_date\":\"\",\"show_cta\":\"\",\"featured_image\":\"yes\",\"el_class\":\"\",\"terms_post\":\"post_tag__fixed-income-indices\",\"terms_page\":\"\",\"terms_attachment\":\"\",\"terms_webinar\":\"\",\"terms_bbmegamenu\":\"\",\"terms_directory\":\"\",\"terms_datalayer\":\"\",\"terms_templatera\":\"\",\"terms_bbg-fourofour\":\"\",\"terms_reusable\":\"\",\"terms_cookie_items\":\"\",\"terms_bbl_email_subscriber\":\"\",\"terms_dynamic_table_ticker\":\"\",\"terms_bfix\":\"\",\"terms_quicklinks\":\"\",\"terms_interstitial\":\"\",\"terms_slide\":\"\",\"terms_gated_content_form\":\"\",\"terms_site_alert\":\"\",\"terms_country\":\"\",\"terms_region\":\"\",\"terms\":\"post_tag__fixed-income-indices\"},\"cpt\":{\"name\":\"post\",\"label\":\"Posts\",\"labels\":{\"name\":\"Posts\",\"singular_name\":\"Post\",\"add_new\":\"Add New\",\"add_new_item\":\"Add New Post\",\"edit_item\":\"Edit Post\",\"new_item\":\"New Post\",\"view_item\":\"View Post\",\"view_items\":\"View Posts\",\"search_items\":\"Search Posts\",\"not_found\":\"No posts found.\",\"not_found_in_trash\":\"No posts found in Trash.\",\"parent_item_colon\":null,\"all_items\":\"All Posts\",\"archives\":\"Post Archives\",\"attributes\":\"Post Attributes\",\"insert_into_item\":\"Insert into post\",\"uploaded_to_this_item\":\"Uploaded to this post\",\"featured_image\":\"Featured image\",\"set_featured_image\":\"Set featured image\",\"remove_featured_image\":\"Remove featured image\",\"use_featured_image\":\"Use as featured image\",\"filter_items_list\":\"Filter posts list\",\"filter_by_date\":\"Filter by date\",\"items_list_navigation\":\"Posts list navigation\",\"items_list\":\"Posts list\",\"item_published\":\"Post published.\",\"item_published_privately\":\"Post published privately.\",\"item_reverted_to_draft\":\"Post reverted to draft.\",\"item_trashed\":\"Post trashed.\",\"item_scheduled\":\"Post scheduled.\",\"item_updated\":\"Post updated.\",\"item_link\":\"Post Link\",\"item_link_description\":\"A link to a post.\",\"menu_name\":\"Posts\",\"name_admin_bar\":\"Post\"},\"description\":\"\",\"public\":true,\"hierarchical\":false,\"exclude_from_search\":false,\"publicly_queryable\":true,\"show_ui\":true,\"show_in_menu\":true,\"show_in_nav_menus\":true,\"show_in_admin_bar\":true,\"menu_position\":5,\"menu_icon\":\"dashicons-admin-post\",\"capability_type\":\"post\",\"map_meta_cap\":true,\"register_meta_box_cb\":null,\"taxonomies\":[],\"has_archive\":false,\"query_var\":false,\"can_export\":true,\"delete_with_user\":true,\"template\":[],\"template_lock\":false,\"_builtin\":true,\"_edit_link\":\"post.php?post=%d\",\"cap\":{\"edit_post\":\"edit_post\",\"read_post\":\"read_post\",\"delete_post\":\"delete_post\",\"edit_posts\":\"edit_posts\",\"edit_others_posts\":\"edit_others_posts\",\"delete_posts\":\"delete_posts\",\"publish_posts\":\"publish_posts\",\"read_private_posts\":\"read_private_posts\",\"read\":\"read\",\"delete_private_posts\":\"delete_private_posts\",\"delete_published_posts\":\"delete_published_posts\",\"delete_others_posts\":\"delete_others_posts\",\"edit_private_posts\":\"edit_private_posts\",\"edit_published_posts\":\"edit_published_posts\",\"create_posts\":\"edit_posts\"},\"rewrite\":false,\"show_in_rest\":true,\"rest_base\":\"posts\",\"rest_namespace\":\"wp\\\/v2\",\"rest_controller_class\":\"WP_REST_Posts_Controller\",\"rest_controller\":{},\"revisions_rest_controller_class\":false,\"revisions_rest_controller\":{},\"autosave_rest_controller_class\":false,\"autosave_rest_controller\":{},\"late_route_registration\":false},\"taxonomies\":[{\"taxonomy\":\"post_tag\",\"terms\":[{\"term_id\":3671,\"name\":\"Fixed Income Indices\",\"slug\":\"fixed-income-indices\",\"term_group\":0,\"term_taxonomy_id\":3671,\"taxonomy\":\"post_tag\",\"description\":\"\",\"parent\":0,\"count\":29,\"filter\":\"raw\"}]}],\"excluded_taxonomies\":{\"tags\":[]},\"post_id\":135605};\n<\/script>\n<div class=\"feed\" data-id=\"69d104576a2c2\"><\/div>\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n<div  class=\"bbg-row-container\">\n\t<section\n\tclass='bbg-row  text--black row-padding--top-none bbg-row--margin-top-normal bbg-row--margin-bottom-normal bbg-row--full-bg-bleed' data-anchor='row-69d104576b07b'\t>\n\t\t\t\t<div class=\"\n\t\tbbg-row--content\t\t\"\n>\n\t\t\t\t\t\t<div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_3.bbg-card_hasCta{\n\t\t\tbackground:#e6f3ff;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_3.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_3.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:black;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_3.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_3.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_3\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Get insights delivered to your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up for Bloomberg Professional Services newsletter<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_688570730015009032\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/insights\/newsletter\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>From ETF momentum to index innovation, this outlook highlights the market trends in 2026, recent methodology enhancements, new index launches, and what is shaping passive bond strategies across regions and asset classes globally.<\/p>\n","protected":false},"author":1935,"featured_media":119889,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[453,444],"tags":[526,3671,547,3842],"series":[],"class_list":["post-135605","post","type-post","status-publish","format-standard","hentry","category-markets","category-trading","tag-fixed-income","tag-fixed-income-indices","tag-indices","tag-indices_2026","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Indices 2026 outlook: Fixed income | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"From ETF momentum to index innovation, this outlook highlights the market trends in 2026, recent methodology enhancements, new index launches, and what is shaping passive bond strategies across regions and asset classes globally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indices 2026 outlook: Fixed income | Insights | Bloomberg Professional Services\" \/>\n<meta property=\"og:description\" content=\"From ETF momentum to index innovation, this outlook highlights the market trends in 2026, recent methodology enhancements, new index launches, and what is shaping passive bond strategies across regions and asset classes globally.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/\" \/>\n<meta property=\"og:site_name\" content=\"Bloomberg Professional Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/bloomberglp\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-23T22:35:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-23T22:39:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2F429775502-resiz.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"mkaczmarski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theterminal\" \/>\n<meta name=\"twitter:site\" content=\"@theterminal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mkaczmarski\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/\"},\"author\":{\"name\":\"mkaczmarski\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/303d143d0de94d7760ef9df6a4176754\"},\"headline\":\"Indices 2026 outlook: Fixed income\",\"datePublished\":\"2026-01-23T22:35:16+00:00\",\"dateModified\":\"2026-01-23T22:39:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/\"},\"wordCount\":\"1852\",\"publisher\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\"},\"keywords\":[\"Fixed Income\",\"Fixed Income Indices\",\"Indices\",\"Indices_2026\"],\"articleSection\":[\"Markets\",\"Trading\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/\",\"name\":\"Indices 2026 outlook: Fixed income | Insights | Bloomberg Professional Services\",\"isPartOf\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website\"},\"datePublished\":\"2026-01-23T22:35:16+00:00\",\"dateModified\":\"2026-01-23T22:39:06+00:00\",\"description\":\"From ETF momentum to index innovation, this outlook highlights the market trends in 2026, recent methodology enhancements, new index launches, and what is shaping passive bond strategies across regions and asset classes globally.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/\",\"name\":\"Bloomberg Professional Services\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"contentUrl\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"width\":\"512\",\"height\":\"103\",\"caption\":\"Bloomberg Professional Services\"},\"image\":{\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.instagram.com\/bloomberg\/\",\"https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/\",\"https:\/\/www.facebook.com\/bloomberglp\",\"https:\/\/twitter.com\/theterminal\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/303d143d0de94d7760ef9df6a4176754\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Indices 2026 outlook: Fixed income | Insights | Bloomberg Professional Services","description":"From ETF momentum to index innovation, this outlook highlights the market trends in 2026, recent methodology enhancements, new index launches, and what is shaping passive bond strategies across regions and asset classes globally.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/","og_locale":"en_US","og_type":"article","og_title":"Indices 2026 outlook: Fixed income | Insights | Bloomberg Professional Services","og_description":"From ETF momentum to index innovation, this outlook highlights the market trends in 2026, recent methodology enhancements, new index launches, and what is shaping passive bond strategies across regions and asset classes globally.","og_url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/","og_site_name":"Bloomberg Professional Services","article_publisher":"https:\/\/www.facebook.com\/bloomberglp","article_published_time":"2026-01-23T22:35:16+00:00","article_modified_time":"2026-01-23T22:39:06+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2F429775502-resiz.jpg","type":"image\/jpeg"}],"author":"mkaczmarski","twitter_card":"summary_large_image","twitter_creator":"@theterminal","twitter_site":"@theterminal","twitter_misc":{"Written by":"mkaczmarski","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/#article","isPartOf":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/"},"author":{"name":"mkaczmarski","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/303d143d0de94d7760ef9df6a4176754"},"headline":"Indices 2026 outlook: Fixed income","datePublished":"2026-01-23T22:35:16+00:00","dateModified":"2026-01-23T22:39:06+00:00","mainEntityOfPage":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/"},"wordCount":"1852","publisher":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization"},"keywords":["Fixed Income","Fixed Income Indices","Indices","Indices_2026"],"articleSection":["Markets","Trading"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/","name":"Indices 2026 outlook: Fixed income | Insights | Bloomberg Professional Services","isPartOf":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website"},"datePublished":"2026-01-23T22:35:16+00:00","dateModified":"2026-01-23T22:39:06+00:00","description":"From ETF momentum to index innovation, this outlook highlights the market trends in 2026, recent methodology enhancements, new index launches, and what is shaping passive bond strategies across regions and asset classes globally.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/insights\/markets\/indices-2026-outlook-fixed-income\/"]}]},{"@type":"WebSite","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#website","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/","name":"Bloomberg Professional Services","description":"","publisher":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#organization","name":"Bloomberg Professional Services","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/","url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","contentUrl":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","width":"512","height":"103","caption":"Bloomberg Professional Services"},"image":{"@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/bloomberg\/","https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/","https:\/\/www.facebook.com\/bloomberglp","https:\/\/twitter.com\/theterminal"]},{"@type":"Person","@id":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/#\/schema\/person\/303d143d0de94d7760ef9df6a4176754","name":"Bloomberg Professional Services","url":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023"}]}},"_links":{"self":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts\/135605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/users\/1935"}],"replies":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/comments?post=135605"}],"version-history":[{"count":10,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts\/135605\/revisions"}],"predecessor-version":[{"id":135624,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/posts\/135605\/revisions\/135624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/media\/119889"}],"wp:attachment":[{"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/media?parent=135605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/categories?post=135605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/tags?post=135605"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/series?post=135605"},{"taxonomy":"type","embeddable":true,"href":"https:\/\/professional.content.cirrus.bloomberg.com\/professional2023\/wp-json\/wp\/v2\/type?post=135605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}