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iShares S&P/Citigroup International Treasury ETF (IGOV)

- NASDAQ
  • Mon, Jul. 6, 6:24 AM
    • So where are bonds going following the referendum? Investors are still selling off riskier assets, although the declines are muted compared with a week ago on increased hopes for a deal with Varoufakis gone.
    • As expected, money is flowing into the U.S. and Germany's fixed-income markets, and out of Spain, Italy, Portugal and Greece.
    • 10-year bond yields: U.S. -0.8% to 2.3%; Germany -6 bps to 0.73%; Spain +10 bps to 2.31%; Italy +10 bps to 2.34%; Portugal +11 bps to 3.02%; Greece +48 to 14.82%.
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | Mon, Jul. 6, 6:24 AM | Comment!
  • Mon, Jun. 29, 4:44 AM
    • With a Greek default on the horizon, a divergence in the direction of bond yields is at work today, with money flowing into Germany's fixed-income market, and out of Spain, Italy, Portugal and Greece.
    • The turbulence is in contrast to last week, when benchmark German bunds fell and Spanish securities advanced amid optimism a deal would be reached.
    • 10-year bond yields: Germany -18 bps to 0.74%; Spain +24 bps to 2.34%; Italy +24 bps to 2.39%; Portugal +30 bps to 2.99%.
    • The yield on Greek 10-year securities jumped the highest since December 2012, shooting up 379 basis points to 14.63%.
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | Mon, Jun. 29, 4:44 AM | 7 Comments
  • Wed, Jun. 10, 4:39 AM
    • The yield on 10-year German government bunds broke above 1% overnight for the first time since September 2014 amid a broader global bond selloff that's been deepening since late April. The U.S. 10-year yield jumped 6 bps to 2.48%.
    • The renewed ascent for German yields started last week when ECB President Mario Draghi said investors should get used to periods of higher bond market volatility and stated the central bank wouldn't do anything about it.
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | Wed, Jun. 10, 4:39 AM | Comment!
  • Thu, Jun. 4, 3:23 AM
    • Bond yields across global markets continued their sell-off into Thursday as a six-week-long bond rout rumbled on.
    • Yesterday, ECB President Mario Draghi said asset prices tend to be more volatile in a low interest rate environment and policymakers were prepared to look through the sharp rise in yields.
    • With the ECB seeing no reason to adjust its stance on monetary policy, German 10-year Bund yields rose to fresh 2015 highs today at 0.95% (up from near zero in mid-April). U.S. 10-year yield +1 to 2.38%.
    • European stocks: FTSE 100 -1.3%; DAX -1.6%; CAC 40 -1.9%; Euro Stoxx 50 -1.6%
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | Thu, Jun. 4, 3:23 AM | 2 Comments
  • Wed, May 13, 4:22 AM
    • Global bond yields will start to stabilize despite a selloff that has sent yields soaring in recent sessions, Pimco chief investment officer Scott Mather told CNBC in a Closing Bell interview.
    • Yesterday, the benchmark U.S. 10-year Treasury note yield hit a six-month high of 2.36% before reversing, while sovereign yields across Europe broadly moved higher.
    • Despite those moves, the bond selloff's "worst phase" has likely ended, said Mather, pointing to a higher-than-expected supply of corporate debt and an "unusual" supply month in Europe as possible explanations for rising yields.
    • Ten-year Bund yields -2 bps to 0.65%; U.S. 10-year yield -3 to 2.23%.
    • ETFs: GIM, EU, BNDX, BWX, IGOV, BUNL, BUNT, GGOV
    | Wed, May 13, 4:22 AM | 2 Comments
  • Thu, May 7, 11:18 AM
    • The German 10-year Bund yield soared to as high as 0.70% earlier, but has since retreated to 0.60%, up one basis point on the day. 10-year yields in Spain and Italy flew to above 2%, but are now sharply lower on the session at 1.73% and 1.78%, respectively.
    • The U.S. 10-year yield hit 2.30% during this period, and has now also pulled back to 2.22%, off two bps on the session.
    • "This Bund [yield] rally has caused a great deal of dislocation for fixed income investors," says the team at Barclays, noting a rise in yields of this size (here's a chart) has occurred just two other times in the past 15 years, and pointing to only 5% in a recent survey saw bond yields higher than 50 bps by the end of June.
    • The moves in Germany and elsewhere are classic "pain trades," says HSBC's Steven Major. "The pain trade is a steeper curve, so given what happened in the past few weeks, this pain could have been excruciating."
    • Source: Bloomberg
    • ETFs: EU, BNDX, BWX, PLW, STPP, IGOV, GOVT, FLAT, BUNL, ITLY, ITLT, GGOV, BUNT, TAPR
    | Thu, May 7, 11:18 AM | 1 Comment
  • Wed, May 6, 4:36 AM
    | Wed, May 6, 4:36 AM | 5 Comments
  • Thu, Apr. 16, 9:40 AM
    • The Big Short was Michael Lewis' classic about how some made billions shorting subprime mortgage-backed securities ahead of the financial collapse. Now hedge funder Paul Singer says he's found a bigger short in plain old bonds.
    • Speaking at the Grant's Spring Conference, Singer wonders "why bondholders persist in trusting that the central banks will be capable of creating just enough inflation and not a farthing more."
    • Further, why do bondholders believe - as the former Fed chair, now citizen blogger (and now with Ken Griffin's Citadel) has said - that central bankers can cure an inflation overshoot in "ten minutes."
    • Inflation, says Singer, is already perky if you hang around the same circles he does. "The roaring markets for financial assets, high-end real estate and art, and other things that investors and the rich own or use, should be seen for what it is: a modern and peculiar form of inflation which is sectorial and emerges from a modern and peculiar policy mix. And this is the coming attraction for a more generalized inflation of the future.."
    • ETFs: AGG, BND, BOND, BNDX, BWX, SCHZ, PLW, LAG, IGOV, GOVT, DI, FBND, RIGS, SAGG, GBF, IUSB, LDUR, TAPR, FWDB, VBND
    | Thu, Apr. 16, 9:40 AM | 2 Comments
  • Thu, Jan. 22, 9:38 AM
    • It's an all-time low for Spain's 10-year note, which falls 14 basis points to 1.41% after the ECB launches a €60B per month asset purchase program. Italy's 10-year is down 12 bps to 1.56%.
    • German 10-year Bund yields are down eight basis points at 1.40%, and the U.S. 10-year Treasury yield has undergone a major reversal, now lower by four basis points to 1.84% after rising as high as 1.94% after the ECB announcement. TLT goes green by 0.45% after being down more than 1.5%.
    • ETFs: EU, BNDX, BWX, IGOV, BUNL, ITLY, ITLT, GGOV, BUNT
    • Previously: ECB launches €60B per month QE (Jan. 22)
    • Previously: Futures add to gains after ECB goes bigger than expected (Jan. 22)
    | Thu, Jan. 22, 9:38 AM | Comment!
  • Tue, Jan. 13, 5:20 PM
    • The WisdomTree Euro Debt ETF's (NYSEARCA:EU) final trading day will be February 11th.
    • Of the nearly 300 bond ETFs trading in the U.S., EU is the only fund currently trading that provides investors specifically with broad European government bond exposure.
    • Broad global government ETFs: BNDX, BWX, IGOV
    | Tue, Jan. 13, 5:20 PM | Comment!
  • Tue, Jan. 6, 7:16 AM
    • The improbable (to most) rally in long-dated U.S. government paper continued overnight, with the 10-year yield dipping down all the way to 1.98%. It's bounced since, and currently stands at 2.00%, off three basis points on the session.
    • It's a global rally, with bonds in the BAML Global Broad Market Sovereign Plus Index having an effective yield of just 1.28% - an all-time low (data is from 1996 on). A sampling: Japan 10-years 0.29%, German 10-years 0.47%, Spain 1.55%, U.K. 1.62%, Italy 1.77%, Australia 2.7%.
    • TLT +0.5%, TBT -1%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, JGBS, JGBD, BNDX, ZROZ, BWX, SBND, TLH, VGLT, DLBS, UBT, TLO, IGOV, BUNL, JGBL, ITLY, TENZ, LBND, ITLT, JGBT, GGOV, TYBS, DLBL, BUNT, JGBB
    | Tue, Jan. 6, 7:16 AM | 5 Comments
  • Jul. 2, 2014, 6:37 AM
    • Portugal will offer a new 10-year U.S. dollar-denominated government bond, which already has a pre-sale demand above $2B.
    • The issuance will be launched in October, and displays Portugal's new financial standing after an exit from its three-year bailout program in May.
    • The initial price guidance for the bond is attractive to investors looking for higher yield, and will be priced 265 basis points above Treasurys, at a yield of around 5.20%.
    • ETFs: EU, BWX, BNDX, IGOV, DI, LDUR, FWDB
    | Jul. 2, 2014, 6:37 AM | 1 Comment
  • Jun. 9, 2014, 11:46 AM
    • The U.S. 10-year Treasury  yield of 2.62% is 72 basis points higher than that of the G-7 average, the largest spread since April 2010, according to Bloomberg.
    • Earlier this morning, the yield on Spanish 10-year paper fell below that of Treasurys, also for the first time since 2010.
    • Trying to come up with a reason other than sheer madness, analysts point to the divergence of monetary policy between the U.S. and Europe, noting the ECB last week cut rates and hinted at QE, while the U.S. is tapering and eyeing rate hikes as soon as mid-2015.
    • ETFs: TBT, TLT, TMV, TBF, EDV, EU, TMF, TTT, BWX, BNDX, ZROZ, SBND, TLH, DLBS, VGLT, UBT, PLW, IGOV, GOVT, TLO, ITLY, TENZ, ITLT, LBND, TYBS, DLBL
    | Jun. 9, 2014, 11:46 AM | 5 Comments
  • Jan. 7, 2014, 4:44 AM
    • Ireland's first bond sale since exiting its EU bailout appears set to be a blockbuster, with the government reportedly receiving indications of interest worth €9B for the planned sale of €3B in 10-year debt.
    • The demand has caused the yield on existing 10-year paper to drop 8 bps to an eight-year low of 3.27% compared with a peak of 15% in 2011.
    • Based on early orders, the new notes will carry interest of 3.55%.
    • ETFs: BWX, BNDX, EIRL, IGOV, BWZ, ISHG
    | Jan. 7, 2014, 4:44 AM | 1 Comment
  • Jun. 5, 2013, 10:09 AM
    Vanguard finally moves into the international and emerging bond market ETF space, launching today its Total International Bond ETF (BNDX) with expense ratio of 0.20% and its Emerging Markets Government Bond ETF (VWOB) with expense ratio of 0.35%. Both are hedged against currency exposure. Possible competitors include: GLCB, IGOV, EMB.
    | Jun. 5, 2013, 10:09 AM | Comment!
  • Mar. 18, 2013, 4:57 AM
    Ron Rowland offers additional highlights on the recently expanded lineup of commission-free ETFs over at Fidelity including the following caveat: Funds not held for 30 days by retail investors or 60 days by RIAs using Fidelity as a custodian will be subject to a $7.95 per-trade commission. Some RIAs have complained that the longer holding period directed at them is unfair. Rowland spells out the full list of affected ETFs here.
    | Mar. 18, 2013, 4:57 AM | Comment!
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IGOV Description
The iShares S&P/Citigroup International Treasury Bond Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P/Citigroup International Treasury Bond Index Ex-US.
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