Masters in Business

BlackRock's Global Co-Head of iShares Fixed Income ETFs Stephen Laipply

26 snips
Jun 20, 2025
Stephen Laipply, Global Co-Head of iShares Fixed Income ETFs at BlackRock, provides insights into navigating today’s turbulent markets. He discusses the impact of tariffs and inflation on investment strategies, as well as the Fed's rate challenges. Laipply sheds light on the resilience of bond ETFs during crises and shares lessons from his career journey. The importance of active fixed income investing shines through, alongside a focus on mentorship and the ever-evolving landscape of hiring in finance.
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ANECDOTE

Discovering Bond ETFs Accidentally

  • Stephen Laipply discovered bond ETFs while trying to buy treasuries and was frustrated by commissions.
  • He found ETFs on iShares' website and was fascinated that bonds could trade on exchanges efficiently.
INSIGHT

Bond ETFs Thrive in Market Stress

  • Bond ETFs see surges in usage during market stress as they trade robustly when underlying bonds struggle.
  • This liquidity attract institutional investors and drives growth in the ETF fixed income market.
INSIGHT

Bond ETFs Defy Liquidity Fears

  • Despite criticisms, bond ETFs have repeatedly proven to maintain liquidity in volatile markets.
  • They trade actively on exchanges even when underlying bond markets are dislocated or illiquid.
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