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April 26, 2023
- IShares MBS ETF dips 0.47% by midday Vanguard Mortgage-Backed Securities ETF (down 0.469%) has also underperformed today.
- European markets are down as CAC is currently down 0.86% and trading around 7,466.66.
The trading session is well on its way, markets are mixed with Nasdaq up to 11,900, gaining 0.76%. Dow Jones trades at 33,366 after losing 0.49%.
European markets have struggled to gain ground and are now trading lower midway through the session. Asia-Pacific markets have struggled to gain ground and are now trading lower midway through the session.
US markets were mixed as rising bond yields sparked inflation fears. After trading around 3.54%, the yield on one month US government debt rose to 4.11%.
3Rd quarter earnings season is mostly over, with Ternium S.A. and Landstar System, Inc. releasing their earnings reports just this week.
Ambiguous macro data is influencing the market as Crude Oil Inventories in United States fell short of market expectations (-1.49 million) with a reading of -5 million, continuing the decline from the previous figure of -4.58 million. United States Core Durable Goods Orders beat analyst expectations of -0.2% and the previous reading of -0.3% with new data of 0.3%. United States New Home Sales (Mar) released yesterday at 14:00 UTC with a figure of 683,000, while the previous figure was 623,000.
Furthermore, the market is looking at projections for United States Pending Home Sales are set for a continuation of decline with 0.5% while previous data was 0.8%; data will be released tomorrow at 14:00 UTC. Tomorrow at 12:30 UTC data for United States GDP will be released, with an expected decline to two from the preceding figure of 2.6. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 248,000, following on from the preceding figure of 245,000. New data is set to be published tomorrow at 12:30 UTC.
Despite lacklustre price action, some assets are lagging behind their peers as iShares MBS ETF takes a hit, loses 0.47% of its value. Vanguard Mortgage-Backed Securities ETF (down 0.469%) has also underperformed today.
IShares Trust – iShares iBonds Dec 2021 Term Treasury ETF | Currently steady around $25.35
It's been more of the same this session on the back of a month of flat trade, Today's session so far looks to be heading in a similar way — iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF trades at $25.35, after ending yesterday at $25.36.
Vanguard Mortgage-Backed Securities ETF | -0.47% in mid-session
- Vanguard Mortgage-Backed Securities ETF is now trading 7.41% above the significant low ($43.58) it slumped to 6 months ago.
- Shareholders to attain annual dividend yield of 1% this year
After hitting an important low of $43.58 approximately 6 months ago, Vanguard Mortgage-Backed Securities ETF has bounced back 7.41% since. Looking back to Monday, December 26th, VMBS disclosed to the market its decision to pay a dividend of 11.8 cents per share for all shareholders on record up until Thursday, March 2nd. With the payment made on Monday, March 6th, the decision means the fund's shareholders could obtain an annual dividend yield of 1% this year.
