Treasury Yields Rise As UK Inflation Comes In Higher Than Expected, Market Awaits Powell Testimony
Portfolio Pulse from Bhavik Nair
Treasury yields rose during Wednesday's Asian trading session ahead of Federal Reserve Chair Jerome Powell's testimony before Congress and as U.K. inflation came in higher than expected. The iShares 1-3 Year Treasury Bond ETF (SHY) gained 0.037% on Tuesday, while the Vanguard Short-Term Treasury Index Fund ETF (VGSH) rose 0.069%.
June 21, 2023 | 12:29 pm
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POSITIVE IMPACT
iShares 1-3 Year Treasury Bond ETF (SHY) gained 0.037% on Tuesday as Treasury yields rose ahead of Powell's testimony and higher UK inflation.
The rise in Treasury yields due to higher UK inflation and anticipation of Powell's testimony has led to a positive impact on SHY. As yields rise, the ETF's value increases, resulting in a 0.037% gain on Tuesday.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Vanguard Short-Term Treasury Index Fund ETF (VGSH) rose 0.069% on Tuesday as Treasury yields increased ahead of Powell's testimony and higher UK inflation.
The increase in Treasury yields due to higher UK inflation and anticipation of Powell's testimony has positively impacted VGSH. As yields rise, the ETF's value increases, resulting in a 0.069% gain on Tuesday.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80