The report highlights how exchange-traded funds (ETFs) were altering liquidity channels, accelerating electronic trading and reshaping price discovery.

Goldman Sachs Asset Management (GSAM) has released a report titled ‘The ETF Effect: How Exchange-Traded Funds Are Transforming Fixed Income’ on 22 May, arguing that ETFs were reshaping the structure and functioning of global bond markets. Fixed income ETFs have become a central part of the market’s plumbing The firm said fixed income ETFs have become a central part of the market’s plumbing, influencing liquidity, price discovery and investor access to historically fra