iShares 1-3 Year Treasury Bond ETF (SHY) - NYSEARCA
  • Wed, Mar. 9, 3:40 PM
    • The consensus view at the moment holds that policy divergence - in which most global central banks are easing while the Fed tightens - is unsustainable. Not so fast, says Goldman's Jan Hatzius. Even if the Fed hikes three times this year (which he expects), the wide gap between U.S. and overseas rates wouldn't be unusual on an historical basis.
    • A check of the scorecard finds the spread between U.S. and German two-year paper is the widest since 2006, and for the U.S. and Japan, the widest since 2008.
    • This just reflects the narrower-than-normal gap of the past few years, says Goldman. Go back further, and the divergence will be at about the post-1985 average even if the Fed boosts rates three times in 2016.
    • At the moment, short-term rate futures are pricing in only a 73% chance of even one Fed rate hike this year. Goldman not only expects three, but also sees the 10-year yield jumping all the way to 2.75% from the current 1.89%.
    • ETFs: IEF, SHY, PST, IEI, TYO, BIL, DTYS, UST, PLW, VGSH, SHV, VGIT, STPP, SCHO, GOVT, FLAT, TBX, SCHR, FTT, GSY, TYD, ITE, DTYL, EGF, DTUS, SST, DTUL, TAPR, TUZ, DFVL, TBZ, DFVS, USFR, TYNS, TFLO
    | Wed, Mar. 9, 3:40 PM
  • Tue, Mar. 1, 2:09 PM
    • iShares Barclays 1-3 Year Treasury Bond Fund ETF (NYSEARCA:SHY) announces monthly distribution of $0.045.
    • 30-Day Sec yield of 0.58% (as of 2/26/2016).
    • Payable Mar. 7; for shareholders of record Mar. 3; ex-div Mar. 1.
    | Tue, Mar. 1, 2:09 PM
  • Tue, Feb. 23, 12:11 PM
    • Futures markets are showing less than a 50% chance of even one rate hike this year - that's down from 93% on Jan. 1. It's no surprise given the early rout in equities, troubles in China, and the continuing collapse in the energy patch.
    • But with stocks and energy showing signs of at least stabilizing, and inflation perking up, the central bank may not be as dovish as markets are pricing in, says BlackRock's Global Chief Investment Strategist Russ Koesterich.
    • "Will the central bankers wait out all of 2016," he asks in a new report. "Probably not."
    • An interesting counterpoint to Koesterich is from the Fed itself, where Dallas Fed boss Robert Kaplan today argues for an extended pause in the rate hike cycle.
    • ETFs: SHY, BIL, PLW, VGSH, SHV, STPP, SCHO, GOVT, FLAT, FTT, EGF, DTUS, SST, DTUL, TAPR, TUZ, USFR, TFLO
    | Tue, Feb. 23, 12:11 PM | 2 Comments
  • Tue, Feb. 23, 11:41 AM
    • Robert Kaplan continues to remind that there's a new, more-dovish sheriff in charge at the Dallas Fed.
    • Speaking to the FT, the Dallas Fed president says the central bank should be open to leaving policy on hold for an extended period, if necessary.
    • "I'd be concerned about the downside," he says, when asked about where the balance lay between positive and negative risks.
    • Alongside current issues, Kaplan also takes note of secular headwinds such as overcapacity, high debt levels, an aging population, and technological disruptions.
    • ETFs: SHY, BIL, PLW, VGSH, SHV, STPP, SCHO, GOVT, FLAT, FTT, EGF, DTUS, SST, DTUL, TAPR, TUZ, USFR, TFLO
    | Tue, Feb. 23, 11:41 AM | 7 Comments
  • Wed, Feb. 17, 10:19 AM
    | Wed, Feb. 17, 10:19 AM | 1 Comment
  • Thu, Feb. 11, 11:39 AM
    • In day two of her semi-annual testimony before Congress (today at the Senate), Janet Yellen repeated her prepared remarks in which she acknowledged rising risks, but reiterated her expectation for a gradual tightening of monetary policy.
    • "The Fed continues to be stubborn and dogmatic," says economist Bob Brusca. "Policy is not on automatic pilot it is on dogmatic pilot."
    • With Japan's going negative a couple of weeks ago, Sweden's deeper dive into negative territory last night, and deflation signs everywhere, rates below zero are the new big thing, and the Fed boss says the central bank is having a renewed look at them as a possible policy tool. Yellen is surprised, she says, at how far global central banks have been able to move into negative territory without seemingly affecting small depositors.
    • Live blog
    • As of this writing, the Jan. 2017 Fed Funds futures contract is trading slightly higher than the Feb. 2016 contract, meaning markets have not only priced out any chance of a rate hike this year, but they're now beginning to price in the possibility of a rate cut.
    • Previously: Treasury yields plunge to near 3-year lows (Feb. 11)
    • ETFs: SHY, BIL, PLW, VGSH, SHV, STPP, SCHO, GOVT, FLAT, FTT, EGF, DTUS, SST, DTUL, TAPR, TUZ, USFR, TFLO
    | Thu, Feb. 11, 11:39 AM | 22 Comments
  • Thu, Feb. 4, 9:32 AM
    • "[The] bond market is underestimating to a significant degree the amount of monetary normalization that we're likely to see," says Goldman Sachs' Jan Hatzius, expecting the 10-year Treasury yield to rise to about 3% this year from its current 1.87%.
    • Current thinking is that the Fed is more likely to not hike rates at all in 2016 than it is to come anywhere near the four rate boosts the "dots" were promising just weeks ago.
    • Pimco also expects the Fed to tighten more than traders expect, and has a "small underweight" position in global bonds. "The fundamentals of the U.S. economy remain fairly intact," says Jerome Schneider, who runs the Pimco Short-Term Fund (MUTF:PTSHX). His fund gained 1.4% last year, outperforming peers by 140 basis points.
    • ETFs: SHY, IEF, PST, IEI, BIL, TYO, DTYS, UST, VGSH, SHV, VGIT, SCHO, TBX, SCHR, GSY, TYD, ITE, DTYL, DTUS, DTUL, SST, TUZ, DFVL, TBZ, DFVS, TYNS
    • Previously: Fed: Business lending standards tighten for 2nd straight quarter (Feb. 4)
    | Thu, Feb. 4, 9:32 AM
  • Mon, Feb. 1, 2:10 PM
    • iShares Barclays 1-3 Year Treasury Bond Fund ETF (NYSEARCA:SHY) announces monthly distribution of $0.045.
    • 30-Day Sec yield of 0.78% (as of 1/28/2016).
    • Payable Feb. 5; for shareholders of record Feb. 3; ex-div Feb. 1.
    | Mon, Feb. 1, 2:10 PM
  • Fri, Jan. 29, 10:53 AM
    • BlackRock is dropping indexes from Barclays in favor of similar ones from Intercontinental Exchange's (NYSE:ICE) Interactive Data for its series of duration-specific U.S. Treasury ETFs which in total hold about $36B in AUM.
    • The four: The $12.6B iShares 1-3 Year Treasury Bond ETF (NYSEARCA:SHY), the $5.7B iShares 3-7 Year Treasury Bond ETF (NYSEARCA:IEI), the $9.6B iShares 7-10 Year Treasury Bond ETF (NYSEARCA:IEF), and the $8.1B iShares 20+ Year Treasury Bond ETF (NYSEARCA:TLT).
    • Investors won't notice much difference as the mandates of the new indexes are exactly the same, but it's a nice win for Interactive Data, which ICE purchased in October for $5.2B.
    • Source: Barron's
    | Fri, Jan. 29, 10:53 AM
  • Thu, Jan. 28, 3:14 PM
    • That the FOMC famously left out of yesterday's statement a line about the balance of risks (previously they were balanced) suggests a continued pause in the rate hike cycle is likely, says BAML's Karin Kimbrough. Leaving the "balance" part out suggests the Fed sees more downside risk, but didn't want to call too much attention to that at the moment.
    • Kimbrough and team don't see another rate hike until June, and 2-3 at most for the year. Four "is a bridge too far."
    • When released, the minutes of this week's meeting will likely reflect a fair degree of concern about the prospects for hitting the 2% inflation mandate, given the big decline in inflation expectations over the past two months.
    • ETFs: SHY, BIL, VGSH, SHV, SCHO, DTUS, DTUL, SST, TUZ
    • Previously: Fed waves white flag (Jan. 27)
    | Thu, Jan. 28, 3:14 PM
  • Fri, Jan. 15, 9:54 AM
    • The Fed has strongly hinted of its plan to raise rates at every other meeting this year - meaning a total of four hikes, with the next coming at the March meeting.
    • Market participants haven't been buying that line, instead pricing in just two rate hikes this year - a move not unnoticed by the PhDs at the Fed who insist the markets aren't getting things right.
    • Mulling over another sharp decline in stocks and another weak batch of economic data, investors are doubling down on their dovish bets, now not pricing in another Fed rate hike until September.
    • The January 2017 Fed Funds futures contract is now priced at 99.335, implying a Fed Funds rate one year from roughly only 33 basis points higher than it is today.
    • ETFs: SHY, IEF, PST, IEI, BIL, TYO, DTYS, UST, VGSH, SHV, VGIT, SCHO, TBX, SCHR, GSY, TYD, ITE, DTYL, DTUS, DTUL, SST, TUZ, DFVL, TBZ, DFVS, TYNS
    | Fri, Jan. 15, 9:54 AM | 3 Comments
  • Wed, Jan. 6, 9:06 AM
    | Wed, Jan. 6, 9:06 AM | 11 Comments
  • Dec. 31, 2015, 10:33 AM
    • November monthly performance was: -0.55%
    • AUM of $40.8M
    • No dividends were paid in November
    • Top 10 Holdings as of 11/30/2015: iShares 1-3 Year Treasury Bond (SHY): 61.14%, PowerShares S&P 500 BuyWrite ETF (PBP): 14.66%, SPDR® S&P 500 ETF (SPY): 13.94%, WisdomTree Emerging Markets High Div ETF (DEM): 2.88%, PowerShares Intl Div Achiev ETF (PID): 2.82%, iShares US Real Estate (IYR): 2.47%, Schwab US Dividend Equity ETF™ (SCHD): 0.54%, iShares 20+ Year Treasury Bond (TLT): 0.0%
    | Dec. 31, 2015, 10:33 AM
  • Dec. 18, 2015, 2:41 PM
    • There was nothing dovish about the Fed's rate hike this week, writes David Rosenberg, noting the "dots" continue to show an expectation of four rate hikes in 2016 (vs. the market at two) and the statement showed the FOMC "dramatically" boosting its assessment of the labor market and expecting wage pressures to rise.
    • Yes, there was talk of concern about weak inflation, but Rosenberg calls that a bone thrown to the three voting doves to bring them on board.
    • So the Fed has met its employment objective and some continue to worry about inflation even as core CPI just hit 2% year-over-year. "Talk about cognitive dissonance," says Rosie.
    • What wasn't a concern from the Fed: Global events, the price of oil, emerging markets, the strong dollar. "Sometimes what is left unsaid matters just as much as what is said, which is another reason I don’t look at the Fed’s statement as being as dovish as what the narrative has been thus far."
    • ETFs: SHY, BIL, VGSH, SHV, SCHO, DTUS, DTUL, SST, TUZ
    | Dec. 18, 2015, 2:41 PM | 5 Comments
  • Dec. 16, 2015, 3:47 PM
    | Dec. 16, 2015, 3:47 PM | 12 Comments
  • Dec. 4, 2015, 3:09 PM
    • "Smart people sometimes do stupid things," says Mizuho's Steven Ricchuito, arguing for the Fed to wait until at least Q2 before lifting interest rates. Other than labor market indicators, the tilt of the most recent economic data is decidedly lower, he says, noting the downturn in ISM measures and a "stuck" housing market. Corporate earnings haven't looked that hot either.
    • A Fed move this month might end up as a boner on par with the BOJ's early 1990s rate hike, or the ECB's in 2011 - both of which helped tip their regions into long deflationary bouts.
      "Should the Fed make a policy mistake and hike rates we expect the anticipated equity rally will run into a wall of selling, credit spreads will widen, the dollar will rise sharply, crude oil will break through the $40 a barrel level and the Treasury curve will flatten from both ends."
    • ETFs: SHY, BIL, PLW, VGSH, STPP, SHV, GOVT, FLAT, SCHO, FTT, EGF, DTUS, DTUL, SST, TUZ, TAPR, TFLO, USFR
    | Dec. 4, 2015, 3:09 PM | 10 Comments
SHY Description
The iShares 1-3 Year Treasury Bond ETF seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities between one and three years.
See more details on sponsor's website
Country: United States
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