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March 12, 2023
- Midway through earnings season, Centrais Elétricas Brasileiras S.A. – Eletrobrás and Algonquin Power & Utilities Corp. are in line to report next
- Top gainer iShares U.S. Treasury Bond ETF appreciates 1.41%; currently at $23.05
- European markets were down Friday as FTSE is down by 1.67%, reaching 7,748.35
A reminder of where Friday left off before tomorrow's session begins: leading equity indices in the US declined as S&P 500 lost 1.45% and ended the session at 3,861.59. Nasdaq shed 1.76% and closed at 11,139.
US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets were down Friday as FTSE is down by 1.67%, drops to 7,748.35 Asia-Pacific markets closed lower Friday.
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 1.41% to trade at $23.05, thereby indicating that government bond yields were downbeat across the yield curve.
3Rd quarter earnings season is mostly over, with Oracle & The Toro Company releasing their earnings reports just this week.
Market's down-tick coincides with some negative macro data published earlier as highly important Unemployment Rate data from United States beat analyst expectations of 3.4 with a reading of 3.6.
Markets are trading lower today despite some positive data published earlier as data from United States concerning Non Farm Payrolls was released Friday. Newly published figures emphasized continued decline from last month's figure of 504,000 to 311,000 this month.
Meanwhile, United States CFTC Gold speculative net positions released Friday with a figure of 107,100, while the previous figure was 128,800.
Furthermore, United States Consumer Price Index is expected Tuesday. United States Consumer Price Index is expected Tuesday. United States Core Consumer Prices figure is projected at 0.4%. It previously stood at 0.4%; data will be released Tuesday.
While markets are generally down so far today, some assets outperformed such as iShares U.S. Treasury Bond ETF gained 1.41% to reach $23.05. IShares Core Total USD Bond Market ETF (up 1.05%) and iShares 1-3 Year Treasury Bond ETF (up 0.545%) also performed well Friday.
IShares U.S. Treasury Bond ETF | Closed +1.41% at $23.05
IShares U.S. Treasury Bond ETF continues a 3 day uptrend, gaining a total of 1.92%. It was more of the same for iShares U.S. Treasury Bond ETF Friday — after finishing Thursday at $22.73, iShares U.S. Treasury Bond ETF went up to $23.06 before paring its losses and closing at $23.05.
IShares 1-3 Year Treasury Bond ETF has increased a total of 26 cents over the past 3 days, with Friday's session contributing to the uptrend. 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 0.798% for all eligble investors.
