> Bond mutual and exchange-traded funds now own 17% of all corporate bonds, up from 9% in 2008, according to the ICI. In periods of market stress, more-concentrated mutual-fund ownership tends to mean larger price drops, the IMF said last year.

This is way better than 17% of all corp bonds being controlled by hedge funds. Being levered money, HF selling would be way more disruptive to the marketplace than mutual fund selling.