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

- NASDAQ
  • 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)
    | 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
    | 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
    | 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
    | 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
    | 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
    | 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.
    | 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.
    | Comment!
  • Jul. 25, 2012, 1:05 PM
    Stable or shrinking yield premiums to Treasurys suggest some emerging market sovereign debt is emerging as a safe-haven play. Of note are Mexico, Brazil, and Colombia, but the Philippines and Indonesia are also on the list of those not necessarily selling off every time markets go into "risk off" mode.
    | Comment!
  • Apr. 11, 2012, 10:44 AM
    The IMF warns fiscal concerns are cutting the supply of "safe" government debt just at the time when demand for such assets are rising. Such scarcity risks raising  the price of safe assets to worrisome levels (witness Germany yesterday).
    | 1 Comment
  • Jan. 3, 2012, 5:55 AM
    G7 countries will need to refinance over $7.6T of debt this year, with the amount increasing to more than $8T when interest payments are included. Japan leads the way with $3T, followed by the U.S. with $2.8T. Crucially, Italy will need to raise $428B and pay another $70B in interest.
    | 2 Comments
  • Aug. 5, 2011, 4:53 AM
    Italian and Spanish bond yields are rising ever higher and world markets are being routed, but for the ECB to step in would be "like pouring water into a bucket with a hole in it," says governing council member Luc Coene. Seems like he's pouring water onto an electric fire.
    | 1 Comment
  • Aug. 5, 2011, 4:22 AM
    Further increases in Italian and Spanish bond yields make a mockery of the ECB's buying of just Irish and Portuguese debt. Italian 10-year bond yields hit more fresh euro-era highs, rising 0.15 percentage point to 6.35%. Those of Spain hit 6.358%. Meanwhile, the yield on gilts touches a record low of 2.59%.
    | Comment!
  • Apr. 30, 2011, 8:15 AM
    Tim Geithner and Treasury may not be intentionally holding down the dollar, but that doesn't mean it's poised for any kind of rally. There are still ways to profit from the incredible shrinking greenback, including large-cap heavy exporters, international bonds, gold (of course), and some - not all - foreign currencies.
    | 2 Comments
  • Apr. 7, 2011, 5:05 PM
    GE Asset Management, following "very, very aggressive run-ups" in credit markets, is unloading its CMBS, junk bonds, and emerging market debt in favor of longer term Treasuries. CIO Paul Colonna sees not a recession, but an economic slowdown enough to "impact asset prices."
    | 1 Comment
  • Mar. 24, 2011, 5:53 PM
    It looks like the IMF has finally gotten the memo, declaring in a blog post that government bonds are not the risk-free asset they once were. The main implication being that sovereign paper now assumes the characteristics of a credit instrument - the price mainly reflects probability of default.
    | 9 Comments
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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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