Bond etfs, u. S. Dollar fall after ‘poor’ u. S. Treasury auction
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Popular exchange-traded funds that buy U.S. bonds were falling Wednesday after disappointing demand in an auction for 20-year Treasurys. The iShares Core U.S. Aggregate Bond ETF, which
provides exposure to the U.S. investment-grade market, including Treasurys, mortgages and corporate debt, was down 0.7% in afternoon trading, according to FactSet data, at last check. The
iShares 20+ Year Treasury Bond ETF was dropping 1.9%. “The market has reacted very negatively to a poor US Treasury auction” earlier Wednesday afternoon, George Saravelos, global head of
currency research at Deutsche Bank, said in emailed comments. “The most troubling part of the market reaction is that the dollar is weakening at the same time.”