Market cross-currents show the agg stock price trending upward as corporate bond spreads tighten. Technical models predict a near-term target of $100.80, aligning with historical beta performance against major bond benchmarks. I guess we’re not in the market’s version of Kansas from the Wizard of Oz anymore. Because the potential for the Fed to continue its “higher for longer” stand against inflation means that rates may not simply stabilize and plunge lower, lifting bond prices. That was the classic case for the better part of 40 years prior to 2022. But BND and AGG straddling the zero-return line for the past five years, advisors are one equity market correction away from having to explain why that bond allocation is still there. Best case, bonds rally in that event, and the long-term returns lift a bit. The argument here is about a relative shift in risk; if government debt becomes relatively riskier, all things being equal, corporate debt should become more attractive. The latest trading data shows the agg stock price hovering around $99.45, up 0.28% intraday, driven by strong institutional buying. Market participants note increased liquidity in ETF-linked aggregate bond funds, suggesting steady upward momentum if treasury yields remain stable.