U.S. Sells $21B 29-Year 10-month Bond At High Yield 4.229%
Portfolio Pulse from Benzinga Newsdesk
The U.S. Treasury has sold $21 billion in 29-year 10-month bonds at a high yield of 4.229%. This auction could potentially influence the bond market and indirectly affect related stock and ETF prices, including those tracking bond indices.
January 11, 2024 | 6:04 pm
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NEUTRAL IMPACT
The SPY ETF, which tracks the S&P 500, may experience indirect effects due to the bond auction as investors adjust their portfolios in response to changing yields.
While the SPY ETF directly tracks the S&P 500 and not the bond market, changes in bond yields can influence investor sentiment and asset allocation, which may lead to indirect effects on the SPY's performance. However, the impact is not direct and is more likely to be felt over the medium to long term rather than immediately.
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