|Bid||0.00 x 900|
|Ask||0.00 x 1100|
|Day's Range||65.20 - 65.50|
|52 Week Range||60.65 - 68.67|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||-0.76|
|Expense Ratio (net)||0.50%|
The markets were coming off a 653-point drubbing of the Dow on Monday with a combination of government shutdown fears and global growth concerns roiling stocks. Per a CNBC report, a senior Treasury official said that the previous week’s market volatility that saw the Dow experience its worst week in 10 years prompted the call by Mnuchin to allay fears.
A gloomy growth outlook as a result of weaker-than-expected economic data sank Euro zone bond yields on Friday after the IHS Markit Flash Eurozone PMI index fell to 51.7 during the month of December, which ...
The capital markets are hanging on to any sliver of positive news whether it's progress regarding a U.S.-China trade deal or more dovishness from the Federal Reserve next week, which could trigger a shift back to risk-on where high-yield fixed income can be a more attractive option than leveraged loan options that feature a floating rate component. "So leveraged loans are performing worse than high yield," said Peter Tchir, a contributor at Forbes. As Tchir notes, the Federal Reserve has been increasing its dovish tones as of late even if the general consensus is that a rate hike in December will most certainly occur as the CME Group’s FedWatch Tool, an algorithm that calculates the probability of a rate hike in a given month, is now showing an 80.1% chance the Fed will institute a fourth rate hike to end 2018.
Federal Reserve Chair Jerome Powell had the capital markets feeling joyful and triumphant after delivering a speech at the Economic Club of New York on Wednesday where he sounded more dovish on the central ...
While investors were turning their capital allocation down to the “low” setting in U.S. equities as the Dow Jones Industrial Average lost as much as 500 points on Monday, fixed-income investments were ...
U.S. voters headed to the polls on Tuesday and as expected by most analysts, the Democrats successfully took the majority in the House of Representatives, which could prove beneficial to the bond markets. While the general consensus is that political gridlock will benefit the capital markets, Capital Alpha Partners president Chuck Gabriel, posits that a Democratic majority in the House will be a boon to the bond markets moving forward as government spending could increase. The 2018 Midterm Election results didn’t surprise analysts in political and economic circles, but as a post-midterm election rally ensued in U.S. equities, benchmark Treasury notes headed the opposite direction.
HYND seeks to track the price and yield performance of the BofA Merrill Lynch 0-5 Year U.S. High Yield Constrained, Negative Seven Duration Index. The index is designed to provide long exposure to the BofA Merrill Lynch 0-5 Year US High Yield Constrained Index while seeking to manage interest rate risk through the use of short positions in U.S. Treasury securities. HYND normally invests at least 80% of its total assets in the component securities of the index and investments that have economic characteristics that are substantially identical to such component securities. 2.
High-yield corporate bond ETFs acted as expected during the recent equity market stress, providing efficient vehicles for price discovery as some junk-rated debt was pinched alongside stocks. The iShares ...
"I think fixed-income portfolio managers have had their come to Jesus moment," said Janet Johnston, TrimTabs asset management portfolio manager. "They were going with the Fed, not fighting with the Fed. Since 1998, when rates have gone up, stocks have gone up. The lockstep between stocks and bonds as of late is not something typically seen within the capital markets as both are prone to marching to the beat of their own drum.
The ascent of benchmark Treasury yields has sparked an interest in high-yield debt issues as investors may be realizing that the extended bull run in U.S. equities may be losing steam and with a risk-on appetite still prevalent, the hunger for returns can now be satiated in high-yielding bonds. "Investors pulled money from high yield bond ETFs in the first quarter, but demand has been building since then, and to start the fourth quarter it has accelerated," noted Todd Rosenbluth, director of ETF and mutual fund research at CFRA, in an article. Rosenbluth cited heightened activity in ETFs like the iShares iBoxx $ High Yield Corp Bd ETF (HYG) that tracks the investment results of the Markit iBoxx® USD Liquid High Yield Index, which is comprised of high yield U.S. corporate bonds that have less than investment-grade quality. HYS seeks to provide total returns that closely correspond to the ICE BofAML 0-5 Year US High Yield Constrained Index, which is comprised of U.S. dollar denominated below investment grade corporate debt securities publicly issued in the U.S. domestic market with remaining maturities of less than 5 years.
The ascent of benchmark Treasury yields continued today as the Labor Department revealed that job growth in the month of September slid to its lowest level in the past year, which was coupled with the unemployment rate falling to its lowest level in almost 50 years. As the Dow Jones Industrial Average fell almost 300 points as of 1:30 p.m. ET, benchmark Treasury yields continued their weeklong ascent with the 10-year note hitting 3.237 and the 30-year settling to 3.403.
Treasure chests of money tinged with corruption amid a backdrop of high finance makes for an interesting show and with a character like fictitious hedge fund manager Bobby Axelrod, expertly played by actor Damian Lewis, Showtime network's television series "Billions" takes viewers on a seemingly endless game of chess. Whenever there's money to be made, rest assured that the ambitious Axelrod is in the eye of the storm regardless of the asset class, including bonds. In the second season of "Billions," Axelrod showed that his multi-strategy hedge fund, Axe Capital, is not averse to the fixed-income space.
Italian delegates are quickly finding out that saying the right things at the right time can have a positive effect on debt as Italian bonds are on a steady climb amidst the country's financial unrest. Italian leaders assured the European Union that the country would adhere to the union's deficit rules, which quelled investor fears stemming from the Italian government's spending plans. Just last year, Italy recorded a government debt equal to more than 130% of the country’s gross domestic product, but has struggled to keep its repayments down.
With the rise in interest rates and yields falling on U.S. government debt, the trend might portend to fixed-income investors, domestic and foreign, to continue gravitating towards high-yield investments and spurning safe-haven assets like government debt. The supply of short-term government debt has pushed up yields, which in turn, has flattened the yield curve--the spread between long-term and short-term yields. “We normally observe the opposite – supply going up as central banks are cutting rates – which makes increased supply much easier to absorb since investors can hope for capital gains and are protected by carry and roll-down from steep curves,” said Ralf Preusser, head of global rates strategy at Bank of America Merrill Lynch.
“Another man’s junk is another man’s treasure” is an often-used adage with respect to discovering value and in the investment arena, it’s locating profitable opportunities where others would not normally ...
No doubt the first half of 2018 presented its challenges, but there are five ETFs to play for the second half of 2018. CSML tracks the results of the Nasdaq Chaikin Power US Small Cap Index utilizing multi-factor model known as The Chaikin Power Gauge. This proprietary tool uses four factors--value, growth, technical, and sentiment--to find winners and thus far, the performance proves their model works: up 2.03 percent year-to-date and 16.33 percent the past year. 2.
As government debt yields continue to slide amid trade concerns in the first half of 2018, more investors are willing to accept more risk in order to achieve higher yields in the fixed income space. “One ...