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February 27, 2023
Friday at a glance: a tough session dominated by bearish sentiment left LQD 80 cents lower, while setting a $105.58 to $106.05 session range.
United States Core Durable Goods Orders data will be released today at 13:30 UTC, with an expected improvement to 0.1%. iShares iBoxx $ Investment Grade Corporate Bond ETF reaction to indicator information will follow.
IShares iBoxx $ Investment Grade Corporate Bond ETF chart analysis: iShares iBoxx $ Investment Grade Corporate Bond ETF reversed direction at $105.6 support zone and climbed 25 cents above it.
In the meantime, negative performances are also seen in other markets, Adobe is down to $320.54, losing $26.46, after ending the previous session around $347. Alibaba is down to $89, losing $5.16, after ending the previous session around $94.16.
Other assets are showing positive performances as notably, Linde rose 4.75% Friday and closed at $331.89.
Looking ahead, ongoing depreciation may be prolonged as today at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.
Some optimism can drawn from the fact that United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released today at 13:30 UTC. United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released tomorrow at 15:00 UTC.
IShares iBoxx $ Investment Grade Corporate Bond ETF hit a significant low of $99.2 around 4 months ago, but has since recovered 7.51%.
