LQD closed at $105.58 after losing 0.28% yesterday

A quick look at yesterday: bearish sentiment ensured iShares iBoxx $ Investment Grade Corporate Bond ETF finished yesterday's session lower. However, despite the downward bias, iShares iBoxx $ Investment Grade Corporate Bond ETF etched out a distinct $105.35 to $106.2 session range.

United States ADP Nonfarm Employment Change (Feb) is next today at 13:15 UTC.

Meanwhile, United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -3.83 million, while the previous figure was 6.20 million. United States 3-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.635, while the previous figure was 4.073.

IShares iBoxx $ Investment Grade Corporate Bond ETF made an initial break below its 10 day Simple Moving Average at $105.76, a possible indication of a forthcoming negative trend. In contrast, although iShares iBoxx $ Investment Grade Corporate Bond ETF is pointing down today (was as low as $105.35), it's climbing away from the $105.21 support line and is now 37 cents above it.

Looking forward, iShares iBoxx $ Investment Grade Corporate Bond ETF is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, S&P Global is down to $336.65, losing $14.67, after ending the previous session around $351.32. Wells Fargo & Company is down to $44.45, losing $2.18, after ending the previous session around $46.63. Abbott Laboratories is down to $100, losing $2.75, after ending the previous session around $102.75.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as today at 15:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 395,000 from the preceding figure of 1.17 million.

Furthermore, United States ADP Nonfarm Employment Change (Feb) will be released today at 13:15 UTC. United States JOLTs Job Openings (Jan) scheduled to come out today at 15:00 UTC.

IShares iBoxx $ Investment Grade Corporate Bond ETF has shed 4.03% over the past three months.