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DMC Group LLC raised its stake in SPDR Bloomberg Short Term International Treasury Bond ETF (NYSEARCA:BWZ) by 47.2% in the undefined quarter, according to its most recent disclosure with the SEC. The fund owned 165,469 shares of the company's stock after purchasing an additional 53,050 shares during the quarter. SPDR Bloomberg Short
Cresset Asset Management LLC decreased its stake in SPDR Bloomberg Short Term International Treasury Bond ETF (NYSEARCA:BWZ) by 30.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 208,576 shares of the company's stock after selling 93,470 shares during the quarter. Cresset
DMC Group LLC lifted its stake in SPDR Bloomberg Short Term International Treasury Bond ETF (NYSEARCA:BWZ) by 40.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,419 shares of the company's stock after acquiring an additional 32,294 shares
Osaic Holdings Inc. raised its holdings in shares of SPDR Bloomberg Short Term International Treasury Bond ETF (NYSEARCA:BWZ) by 51.4% in the undefined quarter, according to its most recent 13F filing with the SEC. The fund owned 84,678 shares of the company's stock after acquiring an additional 28,734 shares during the period.
BWZ is similar to BWX in that it covers ex-US Treasuries, typically trading in lower yield markets as their battles with inflation have been successful. While a decent USD hedge, to the extent that economic developments in the US may hurt the USD, the higher expense ratios make the more sensitive bet more effective. We think that there is a rate downside in ex-US markets. The BWX is more interesting to speculate on that.
U.S. Treasury yields remain elevated after a spike following President Trump's tariff announcements earlier this year. With long-term Treasury yields still close to multi-year highs, investors are tempted to pivot away from stocks in favor of the bond market at this time.
Plus, some interesting ETFs launched last week, and some expense ratios saw a range of adjustments.
International diversification for bond allocations is, in theory, an attractive concept, but in practice it's not working out so great in 2021 for US investors, based on a set of ETFs. A key headwind for foreign bonds is the rebound in the US dollar.