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UTEN offers reasonable expense ratios compared to similar-duration Treasury ETFs. There are several countervailing factors in the debate around duration. We think the clincher is whether the consumer will absorb outstanding tariff-driven price increases in final goods. Stable employment figures signal that they might, though concerns around flows out of the labour pool due to discouragement suggest the opposite.
UTEN offers hands-off exposure to 10-year Treasury Notes with a 0.15% expense ratio and a 4.52% 30-day SEC yield. Investors should monitor monetary policy, inflation data, economic growth, and geopolitical tensions due to UTEN's 7.91-year effective duration. Because of the current inflation progress and the outlook for yields, long-term Treasury exposure is not warranted.
Blue-chip REITs rallied hard between early July and late October. However, they have recently pulled back. We discuss why, and we also share our top REIT pick of the moment.
Longer duration Treasury bonds have rallied strongly. But I question the sustainability of the rally. The risk/reward still isn't ideal at the longer end of the Treasury curve.
Recession is almost certainly coming, likely within 1 to 2 months. Stocks are likely to fall 15% to 30%, and possibly as much as 45% if the United States defaults on its debt in 3 to 4 weeks.
UTEN is an exchange-traded fund focused on Treasuries. The fund aims to offer the return profile of a constant maturity 10-year Treasury note. Every month, UTEN will sell the currently held, old 10-Year US Treasury and roll into the newly issued 10-Year US Treasury.
Bond trading can be a complicated affair even for the most die-hard quantitative market professionals. However, the introduction of single-bond exchange traded funds (ETFs) could possibly pave the way for more traders to enter the bond market via easier access.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.