AGG - November Rally Sets Treasury Bonds On Track For Best Month In 40 Years | Benzinga
U.S. government bonds are on track for their best month in nearly 40 years following a summer and early autumn sell off that saw foreign buyers all but desert the Treasury markets.
The dramatic turnaround in November came as Treasury yields dropped from 16-year highs — with the benchmark 10-year yield hitting 5% in late October — thanks to growing optimism that the Federal Reserve’s next policy move will be a rate cut, possibly in the first quarter of 2024.
The Bloomberg U.S. Aggregate Bond index (Agg), which tracks total returns on US bonds, is up 4.3% in November, setting it up for its best monthly percentage gain since 1985.
Similarly, the iShares Core U.S. Aggregate Bond ETF (NYSE:AGG), an exchange traded fund that tracks the Bloomberg benchmark, is up 4.1% so far this ...