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Taking a quick look at my Schwab robo (down 1.35%) just now and noticed all the ETFs getting whacked pretty good Domestic worst than EM and International. All the bond ETFs down too. Every ETF EXCEPT IAU. Up 1% today. I guess that's the reason to hold gold. (though I'm still not a fan over the long run).
@MikeM, Treasuries are also up (TLT, IEF). Some of the reporting services don't account for today's distributions right away. Also, at least some CEFs are up, including everyone's favorite Pimco fraternal twins (not just a little, either) and most of the muni CEFs I follow.
So far anyway, it looks a lot like a classic higher quality FI response to an equity selloff.
I'm wondering now if CEFers are considering Pimco's stable as flight-to-quality material, after all the the ups and downs of the monthly earnings reports have proved to be no big deal for NAV and distribution coverage.
Also will be interesting to see what happens today to the normally sleepy credit OEFs some of us gravitated toward during the more correlated stock-"safe" bond performance period before the recent (short term) 10y & 30y rate peaks.
Comments
So far anyway, it looks a lot like a classic higher quality FI response to an equity selloff.
I'm wondering now if CEFers are considering Pimco's stable as flight-to-quality material, after all the the ups and downs of the monthly earnings reports have proved to be no big deal for NAV and distribution coverage.
Also will be interesting to see what happens today to the normally sleepy credit OEFs some of us gravitated toward during the more correlated stock-"safe" bond performance period before the recent (short term) 10y & 30y rate peaks.