Bond ETFs under pressure as Treasury yields climb
Shares of massive exchange-traded funds that provide broad exposure to the U.S. bond market were under pressure Wednesday afternoon, as Treasury yields climbed.
The iShares Core U.S. Aggregate Bond ETF and Vanguard Total Bond Market ETF were each trading down around 0.3%, according to FactSet data, at last check. Both index-tracking ETFs have around $120 billion of assets under management, FactSet data show.
Meanwhile, the yield on the 10-year Treasury note was up about 5 basis points in afternoon trading, to around 4.61%. Bond yields and prices move in opposite directions.