|Bid||121.90 x 900|
|Ask||174.04 x 3000|
|Day's Range||122.29 - 122.42|
|52 Week Range||118.15 - 123.59|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.84|
|Expense Ratio (net)||0.15%|
As the Dow Jones Industrial Average plunged over 600 points on Thursday, it was a bond bonanza in the fixed-income space as fears of a global economic slowdown permeated the capital markets. The shift ...
To no one's surprise, the Federal Reserve hiked its target interest rate by 25 basis points on Wednesday. The headline is that the Fed dropped the whole "stance of monetary policy remains accommodative" sentence, but that was inevitable at this point. The Fed has described risks to the economy as "balanced" since late 2016, but this belies how the central bank feels.
Three weeks ago that Jamie Dimon said bond yields were headed to 4%? The political crisis in Italy was of course, the proximate cause of the big move on Tuesday, but to blame this rally just on risk-off would be a mistake. Just as the calls for a 4% yield on the 10-year note represented surface-level analysis, the view that rates should just revert back to 3.1% now that Italy has a government is also surface-level.