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iShares 1-3 Year Treasury Bond ETF provides exposure to short-term U.S. Treasury bonds and offers stability and attractive yields. SHY holds exclusively U.S. Treasuries, eliminating credit risk, and has a stable price with an average yield to maturity of 4.56%. Vanguard Short-Term Treasury ETF is a cheaper alternative to SHY, with similar investment objectives and historically better performance.
The yield on the 10-year note ended March 8, 2024 at 4.09%, the 2-year note ended at 4.48%, and the 30-year at 4.26%. Here is a table showing the yields' highs and lows and the FFR since 2007.
The S&P 500 fell 0.7% on Friday following the release of February's jobs report. Friday's loss saw the index finishing down 0.3% for the week.
This article takes a look at a long-term perspective on Treasury yields. The chart below shows the 10-year constant-maturity yield since 1962 along with the Fed funds rate (FFR) and inflation.
The S&P 500 finished the week up 1.0%, notching another new record close. The index is currently up 8.31% year to date and has set a new record closing high 15 times so far this year.
Overall, ETFs pulled in $10.3 billion in capital last week, taking year-to-date inflows to $31 billion.
The yield on the 10-year note ended February 23, 2024 at 4.26%, the 2-year note ended at 4.67%, and the 30-year at 4.37%. Here is a table showing the yields' highs and lows and the FFR since 2007.
The S&P 500 slid on Friday, snapping the index's five week win streak. The index is currently up 5.54% year to date.
It generally takes a few years for changes in Federal Reserve rates to fully impact bond fund dividends. Bond funds are still benefitting from prior rate hikes. Perhaps by enough to cancel out any future rate cuts. By my estimations, and under current Fed guidance, most bond funds would only start to see declining dividends in 2025, at the earliest.
The S&P 500 reached another record high on Friday as the index closed above 5000 for the first time in history. The index is currently up 5.98% year to date and has set a new record closing high ten times so far this year.