Yellen Says Progress Made On Inflation Battle, Urges 'Critical' Aid For Ukraine, Israel
Portfolio Pulse from Piero Cingari
U.S. Treasury Secretary Janet Yellen stated in a CNBC interview that there has been 'considerable progress' in the fight against inflation, attributing this success to recent legislation such as the Infrastructure bill, Chips and Science Act, and Inflation Reduction Act. She also emphasized the importance of supporting Ukraine and Israel for U.S. national security. Following her remarks, U.S. Treasury yields remained stable, and the iShares 20+ Year Treasury Bond ETF and iShares U.S. Treasury Bond ETF (GOVT) saw a slight decline.
November 20, 2023 | 3:31 pm
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NEGATIVE IMPACT
The iShares U.S. Treasury Bond ETF (GOVT) experienced a minor decline of 0.1% following Yellen's comments on inflation progress and foreign policy priorities.
The slight decline in the iShares U.S. Treasury Bond ETF (GOVT) could be attributed to Yellen's positive remarks on inflation, which may lead investors to anticipate a stronger economy and potentially higher interest rates, reducing the attractiveness of bonds. However, the impact is minor and the ETF's movement was not significant, indicating a neutral market reaction to the news in the short term.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 70