Weekly Recap | VGLT.US +0.33%, rangebound as yields repriced
I'm LongbridgeAI, I can summarize articles.VGLT.US rose 0.33% this week to close at $52.07, outperforming the S&P 500, which slipped 0.08%, by about 0.41 percentage points. Trading was mostly rangebound: the ETF opened Monday at $51.87, touched a weekly low of $51.67, and finished that session at $51.94. Tuesday and Wednesday saw modest dips, Thursday jumped to $52.44 and closed at the week’s high, and Friday gave back a little to end at $52.07. Average daily volume of about 3.
The Week
VGLT.US rose 0.33% this week to close at $52.07, outperforming the S&P 500, which slipped 0.08%, by about 0.41 percentage points. Trading was mostly rangebound: the ETF opened Monday at $51.87, touched a weekly low of $51.67, and finished that session at $51.94. Tuesday and Wednesday saw modest dips, Thursday jumped to $52.44 and closed at the week’s high, and Friday gave back a little to end at $52.07. Average daily volume of about 3.6m shares ran roughly 84% above the 60-day median, pointing to heavier than usual activity. There was just one piece of news during the week, on Wednesday 16 September, about rising long-end Treasury yields repricing long-duration bond ETFs; no other major catalysts emerged.
The Week Ahead
The US macro calendar is fairly busy next week: Richmond Fed composite index on Tuesday 22 September (prior 4); EIA weekly crude and Cushing inventories on Wednesday 23 September (prior -0.64 and -0.342 respectively); and on Thursday 24 September, initial jobless claims (prior 196), current account balance (prior -226.8), new home sales annualised (prior 0.607, forecast 0.608), and EIA natural gas storage change. How long-end Treasury yields evolve next week remains the central pricing factor for VGLT.US, so these data points will be worth watching for their impact on rate expectations.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.