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March 15, 2023
- Midway through earnings season, Pinduoduo & UroGen Pharma Ltd. are in line to report next
- Top gainer iShares U.S. Treasury Bond ETF appreciates 1.56%; currently at $23.45
- European markets are down as FTSE is currently down 3% and trading around 7,407.24.
The trading session has started and the leading indices are dropping — Dow Jones drawing back 1.34% to 31,726. S&P 500 slipping 1.27% and closing at 3,869.63.
European markets have struggled to gain ground and are now trading lower midway through the session. Asia-Pacific markets are trending positively as KOSPI Composite Index added 1.31% to trade at 2,379.72.
Investor risk appetite was subdued as stocks were sold off in favour of perceivably safer alternatives such as government bonds. The iShares U.S. Treasury Bond ETF has gone up 1.56% to trade at $23.45, thereby indicating that government bond yields were downbeat across the yield curve. Inversely correlated to prices, yields on one year US government debt fell to 4.3%.
Pinduoduo & UroGen Pharma Ltd. due to release their earnings reports within the following week.
While price action maintains a negative bias, United States Participation Rate (Feb) released Monday with a figure of 118.3, while the previous figure was 62.4.
Some optimism can drawn from the fact that United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Mar) is expected tomorrow at 12:30 UTC. United States Building Permits (Feb) is scheduled for tomorrow at 12:30 UTC.
While markets are generally down so far today, some assets outperformed such as iShares U.S. Treasury Bond ETF gained 1.56% to reach $23.45. Vanguard Mortgage-Backed Securities ETF (up 1.5%) and iShares 1-3 Year Treasury Bond ETF (up 0.753%) are looking good as well.
IShares 1-3 Year Treasury Bond ETF | +0.75% to start today's session
- IShares 1-3 Year Treasury Bond ETF is now trading 1.49% above the significant low ($80.51) it slumped to 7 days ago.
- IShares 1-3 Year Treasury Bond ETF is up to $82.33 (0.75%), adding to its four consecutive days of gains.
- Having added to its $1.2 increase during 4 days of gains,
IShares 1-3 Year Treasury Bond ETF is up 1.49% from the significant low of $80.51 it hit 7 days ago. The fund disclosed a quarterly dividend of 16.2 cents per share on Tuesday, February 28th and was paid on Tuesday, March 7th — thereby generating a yield of 0.787% for all eligble investors.
Today's session seems to be pointing upwards and is building on Vanguard Mortgage-Backed Securities ETF's 4 days of gains (+80 cents). The fund disclosed a quarterly dividend of 11.8 cents per share on Monday, December 26th and was paid on Monday, March 6th — thereby generating a yield of 1% for all eligble investors.
