Given that ILTB only dates back to 2011, one may look to an approximation to analyze its sensitivity to recessions. I've charted (HQMCB10YR+US10Y)/2 as such. For the most part it's highly correlated to the 10 year Treasury, but shit the bed during the GFC. If you can't handle the turbulence stick with BND, which has lower corporate exposure, or just straight Treasuries with no corporate exposure 💪
25bp cut Fed's predicted rationale - optimistic inflation is under control but staying vigilant also, economy and consumers both look decent but not spectacular so 50 isn't necessary right now, but we stand ready if either falters