U.S. bond ETF investors are favoring short- and intermediate-maturity debt as a renewed global bond selloff increases interest-rate risks. Short U.S. Treasury exchange-traded funds (ETFs) attracted $12.2 billion in the 20 trading sessions through September 8, while intermediate-maturity ETFs received about $5.7 billion. Morningstar data showed $54.2 billion of net inflows into U.S. intermediate core bond ETFs through August, compared with $25.3 billion for short-term ETFs and only $2.5 billion for long-term funds. Rising oil prices, inflation concerns, government borrowing and strong demand for capital have pushed longer-term yields higher. Japan's 10-year government bond yield rose above 3% for the first time in three decades this month, while U.S. Treasury yields approached three-year highs and German and British borrowing costs reached multi-year peaks. J.P. Morgan Asset Management calls the positioning a duration barbell, in which investors spread exposure across maturities rather than make a single bet on interest rates.