McCarthy Under Pressure As Clock Ticks To Avert Shutdown: Treasury Yields Mirror Market Jitters
Portfolio Pulse from Piero Cingari
The U.S. government is facing a potential shutdown as the Oct. 1 deadline approaches, with Senate negotiators working on a short-term spending agreement. House Speaker Kevin McCarthy is under pressure to navigate opposition and consider a Senate spending deal. Moody's Ratings has expressed concerns about the U.S.'s institutional and governance strength, stating a shutdown would be credit negative. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) dipped another 0.5% on Tuesday, extending its year-to-date losses to 13%.
September 26, 2023 | 7:23 pm
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The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) dipped another 0.5% on Tuesday, extending its year-to-date losses to 13%. The ETF is on track for its third consecutive year of declines.
The potential government shutdown and the concerns expressed by Moody's about the U.S.'s institutional and governance strength are likely to increase market uncertainty and negatively impact the price of the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) in the short term.
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IMPORTANCE 80
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