Generally, for a corporate bonds portfolio, what are the common risk factors that's hedge-able through some liquid products?
I know we can hedge the rate-risk through treasuries. We have some ETFs for specific bonds like JNK/HYG/LQD, and certainly the equities of the firms. Are there other liquid proxies I am not aware of, for some certain factors of the risks?
If there aren't a lot of such tradable products, are there some indexes that "tick" more often, so I can gauge the risk through those indexes?