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Direxion Daily Total Bond Market Bear 1x ETF (SAGG)

- NYSEARCA
  • Thu, Mar. 19, 2:23 PM
    | 9 Comments
  • Wed, Mar. 18, 4:34 PM
    | Comment!
  • Mon, Mar. 16, 2:56 PM
    • Checking out sharp oil decline episodes in 1985, 1997-98, and 2008-09, Natixis' Patrick Artus sees a number of statistically robust consequences. Among them are a rise in real wages, corporate profits, and real interest rates.
    • In those instances since the introduction of the euro, the oil fall has also resulted in a weaker euro (we can check that one off already).
    • The bottom line, says Artus, is an optimistic view on the economy, especially the eurozone.
    • ETFs: AGG, FXE, BND, BOND, EUO, ERO, SCHZ, DRR, EUFX, LAG, ULE, URR, SAGG, GBF, FBND, IUSB, VBND
    | 1 Comment
  • Wed, Mar. 11, 9:46 AM
    • "The Fed is intent on being a blockhead," says Jeff Gundlach, arguing the U.S. central bank is about to make the same mistake the ECB did in 2011 when it hiked interest rates. The ECB found itself quickly reversing course as the higher rates helped precipitate a blow-up in the euro-periphery.
    • "Don't do it," he warns those who are thinking about going contrarian and shorting the dollar (UUP, UDN). Currency trends, he says, tend to go on and on. "The dollar, which has been a world leader, is going to be a world leader."
    • ETFs: AGG, UUP, BND, BOND, UDN, SCHZ, UUPT, FORX, UDNT, LAG, USDU, SAGG, GBF, FBND, IUSB, VBND
    | 23 Comments
  • Tue, Feb. 24, 12:50 PM
    • The SPDR DoubleLine Total Return Tactical ETF (NYSEARCA:TOTL) rolled out today by State Street (NYSE:STT) will invest in a broad portfolio of debt securities.
    • As an active ETF the fund will be managed by veteran fixed income investor, Jeff Gundlach, his team at DoubleLine Capital and State Street Global Advisors.
    • "DoubleLine obviously brings a history and proven track record of delivering superior risk-adjusted returns,” says James Ross, executive vice president and global head of SPDR ETFs at State Street Global Advisors.
    • Other total market fixed income ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, GBF, RIGS, DI, FBND, LDUR, FWDB, IUSB, VBND
    | 3 Comments
  • Sat, Feb. 21, 8:54 AM
    • Is the ubiquitous Barclays U.S. Aggregate Bond Index (ETF version: AGG) due for an upgrade? Up to 90% of the Agg's risk is tied to changes in interest rates, figures BlackRock, with the other 10% linked to credit.
    • The coming iShares Fixed Income Balanced Risk ETF (INC) will split the risk evenly between rates and credit - in other words, writes Chris Dieterich, it aims to be equally sensitive to the underlying economy as it is to interest rates. To accomplish this, the fund will own more corporate bonds, and alongside Treasurys, it will hold derivatives to hedge against them.
    • Morningstar's Ben Johnson wouldn't mind an upgrade to the Agg, but figures more straightforward innovations could work best. One example is the iShares Core Total USD Bond Market ETF (NYSEARCA:IUSB), which launched last year. It's similar to the Barclays benchmark, but also includes high-yield paper and certain foreign bonds. "Does some better than the Agg have to be something that's complex ... It's a fine line between stupid and clever."
    • ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, GBF, FBND, IUSB, VBND
    | 8 Comments
  • Mon, Feb. 9, 5:08 PM
    | 3 Comments
  • Thu, Jan. 29, 3:24 PM
    • Comparing the U.S. economy to the game of Monopoly, Bill Gross says capitalism depends on those with capital hoping they can earn a positive return, and that by holding rates too low for too long, the Fed has crushed that hope.
    • The central bank, however, has begun to recognize the distortions it's created, and will begin hiking "the Monopoly board's interest rates" late this year, "hoping to avoid landing on the figurative Park Place and Boardwalk in the process."
    • "Bonds, despite their ridiculous yields, will not be easily threatened with a new bear market."
    • Investment Outlook
    • ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, GBF, FBND, IUSB, VBND
    | 2 Comments
  • Tue, Jan. 6, 12:30 PM
    • "Beware the Ides of March, or the Ides of any month in 2015 for that matter," writes Bill Gross in his latest investment outlook. "When the year is done, there will be minus signs in front of returns for many asset classes."
    • There comes a time, says Gross, when zero-based or even negative yields fail to generate decent economic growth. Yes, we can get rallies in bond prices and P/E ratios, but the effect on real growth diminishes or even reverses. Corporations take advantage by borrowing at low rates, but take the money and buy back stock, rather than invest in the real economy.
    • What to buy? High-quality assets with stable cash flows: Treasurys and investment-grade corporates, as well as the common stock of companies with attractive dividends and diversified revenue streams.
    • ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, DI, GBF, FBND, LDUR, FWDB, IUSB, VBND
    | 9 Comments
  • Dec. 18, 2014, 12:11 PM
    • Oil price drops similar or greater in magnitude than what's recently been seen have occurred a number of times over the past 30 years, say new Pimco CIO Daniel Ivascyn along with Saumil Parikh. Some have coincided with major recessions and others with faster global growth. So what gives for 2015?
    • The short answer: This drop in oil is supply-, not demand-driven, they conclude, and thus should foster faster economic growth than otherwise next year.
    • As for inflation, expect negative headline prints in developed economies next year, but these should bounce back later in 2015 and into the following year.
    • Investment themes: 1) The outlook for easier monetary policy (in all but the U.S.) has been priced in, making for limited upside for high-quality duration 2) TIPS are attractive as their prices have more than discounted the coming negative inflation prints 3) Globally, eurozone peripheral bonds are the pick 4) In the U.S. non-agency mortgages (see Ivascyn's PDI) are poised for outperformance, but agency paper is overvalued, particularly as the Fed's purchases have ended.
    • Ivascyn also manages the Pimco Income Fund (MUTF:PONAX) and (formerly managed by Bill Gross) the Pimco Unconstrained Bond Fund (MUTF:PUBAX).
    • ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, DI, GBF, FBND, LDUR, FWDB, IUSB, VBND, TIP, VTIP, SCHP, IPE, LTPZ, STPZ, TIPZ, STIP, TPS, TDTT, TIPX, TDTF, SIPE
    | 1 Comment
  • Dec. 12, 2014, 1:04 PM
    • "The Fed, as the central banker of the world, has to worry about financial conditions not just in the United States, but the world," Bill Gross tells Bloomberg. "They should be very cautious about any tightening implications."
    • Gross' comments come as oil crashes, equities and high-yield turn shaky, and the EU debt crisis shows signs of refreshing, and ahead of the FOMC's two-day meeting next week at which many expect the "considerable time" language to be removed from the policy statement - suggesting a rate hike within maybe six months.
    • ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, DI, GBF, YPRO, FBND, BYLD, LDUR, FWDB, IUSB, VBND
    | 15 Comments
  • Dec. 1, 2014, 11:04 AM
    • "Lowflation" - inflation running at below-target rates - will be the major theme for the next twelve months, says Morgan Stanley's Joachim Fels, presenting his bank's 2015 global outlook. "Markets no longer believe that central banks will be able to bring inflation back to target any time soon. The longer this lasts, the more self-fulfilling these prophecies become."
    • For evidence, look no further than the U.S. 10-year Treasury yield plumbing new lows on a daily basis (2.17% at last check) despite better economic growth data and promises of rate hikes in mid-2015. Then there's Germany (0.69%), Italy (1.99%), Spain (1.83%), and the U.K. (1.89%).
    • Taking a variant viewpoint to most in the business, Morgan Stanley sees no Fed rate hike in 2015. As for the ECB, the bank puts the chances of full-blown QE at 50%, up from 40% previously. Easier policy should also be coming from central banks in China, India, and South Korea.
    • ETFs: AGG, BND, BOND, SHY, SCHZ, BIL, VGSH, LAG, PLW, SHV, GOVT, SCHO, SAGG, DTUS, DI, GBF, SST, DTUL, FBND, TUZ, LDUR, FWDB, IUSB, TAPR, VBND
    | Comment!
  • Nov. 24, 2014, 11:18 AM
    • Potential bond buyers are set to spend a net $2.4T next year, but borrowers will issue just $2T, according to JPMorgan. It will be the fifth time in seven years demand has outpaced supply, including about a $500B gap this year.
    • What's going on here? Central banks. "There's really not been much supply hitting the market," says Nomura's George Goncalves. The ECB is set to buy about $400B in bonds next year, and the BOJ will add at least $700B, says JPMorgan. The BOJ owns about 20% of outstanding JGBs, and that proportion could rise to 50% as soon as 2018, according to the top economist at Japan Macro Advisors.
    • ETFs: AGG, BND, BOND, SCHZ, LAG, SAGG, GBF, RIGS, DI, FBND, LDUR, FWDB, IUSB, VBND
    | 2 Comments
  • Nov. 17, 2014, 12:46 PM
    • Gluttons for punishment, bond bears are at it again, as - asked in a Bloomberg poll to choose just one asset class to short - 45% choose some sort of fixed-income product. That amount is three times the percentage who selected gold, and also higher than that of stocks, commodities, currencies, and real estate.
    • “For rates to go a lot lower in the U.S. from the point they are trading at right now, things would have to go very bad in terms of growth,” says a money manager, neatly summing up the conventional wisdom.
    • ETFs: AGG, BND, BOND, BIV, BLV, SCHZ, LAG, SAGG, ILTB, GBF, GVI, YPRO, FBND, BYLD, IUSB, AGND, AGZD, VBND
    | 1 Comment
  • Oct. 30, 2014, 1:51 PM
    • U.S-listed fixed-income ETFs are set to record their biggest monthly inflow on record, with BlackRock data showing inflows through Wednesday of $17.4B, which would top February's $17B.
    • Those in the loop say a large chunk of that is money exiting Pimco's Total Return fund in the wake of Bill Gross' departure. They note a surge in trading volume in short-term government bond ETFs and board-market trackers which more or less act as cash substitutes. Those funds soaking up the bulk of the money this month: SHY, AGG, and BND.
    • BlackRock's (NYSE:BLK) head of fixed-income strategy at its iShares unit Matt Tucker says his people have been talking to clients about using AGG as a bridge position while they figure out which manager they now want to stick with.
    • ETFs: AGG, BOND, BND, SCHZ, LAG, SAGG, GBF, FBND, IUSB, VBND
    | Comment!
  • Oct. 16, 2014, 4:23 PM
    • The Vident Core U.S. Bond Strategy ETF (Pending:VBND) is the third fund by Vident Financial, LLC, launched just a year after its first fund, the Vident International Equity ETF (NASDAQ:VIDI).
    • VBND will track a variety of domestic fixed income securities using an index which systematically over or underweights each sector based on macroeconomics and valuation.
    • "Fixed income is a critical asset class in our client's portfolios and we set out to address some of the risk challenges they are facing in the core of their fixed income portfolio," said Nick Stonestreet, Chief Executive Officer of Vident Financial, in a press release.
    • Other broad fixed income ETFs: AGG, BOND, BND, SCHZ, LAG, SAGG, GBF, FBND, IUSB
    | Comment!
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SAGG Description
The Fund seeks daily investment results, before fees and expenses, of 100% of the inverse of the price performance of the Barclay's Capital U.S. Aggregate Bond Index. There is no guarantee the fund will meet its stated investment objective.
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Country: United States
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