Bundled securities following U.S. Treasuries were among the only winners of a down day for the major averages Thursday as traders pulled money from the equity market and dumped it into bonds.
The 10-year Treasury note rose 3 1/32 in price, yielding 4.60%, and the 30-year bond was tumbling 1 16/32, yielding 4.93%
iShares Lehman 20+ Year Treasury Bond
was up $1.25, or 1.5%, to $87.50. The
SPDR Lehman Long Term Treasury
was higher by 58 cents, or 1.2%, to $50.96. The
iShares Lehman 3-7 Year Treasury Bond
climbed 73 cents, or 0.7%, to $101.87.
Nearly every other exchange-traded fund was sliding Thursday. Overseas-related bundled securities were among the worst decliners after indices dropped overnight. Tokyo's Nikkei 225 fell 2%, and Hong Kong's Hang Seng plummeted 3.3%. London's FTSE was worse by 3.1%, and Frankfurt's DAX dropped 1.7%.
iShares MSCI Brazil Index
was falling $4.29, or 8.1%, to $48.67. The
iShares S&P Latin America 40 Index
dropped $12.14, or 6.5%, to $173.85. The
iShares FTSE/Xinhau China 25 Index
slumped $7.56, or 6.1%, to $115.01. The
SPDR S&P China
was lower by $4.46, or 7%, at $59.59.
Gold- and silver-related ETFs were also crumbling, as the dollar declined against the world's major currencies. Gold futures dove $21.70 to $658 an ounce, and silver was down 99 cents to $11.57 an ounce.
PowerShares DB Silver
was shedding $2.33, or 9.4%, to $22.34. The
Market Vectors Gold Miners
ETF was losing $2.90, or 8%, to $33.55. The
iShares Silver Trust
was down $8.07, or 6.5%, to $115.78.
Basic-materials-related bundled securities were among the biggest losers. Among individual stocks,
slumped 6.5% or more.
First Trust Materials AlphaDEX
ETF slid $2.32, or 11.8%, to $17.39. The
Ultra Basic Materials ProShares
was dropping $5.39, or 7.6%, to $65.99. The
iShares Dow Jones U.S. Basic Materials
was down $2.64, or 4.2%, to $60.86.
Homebuilders were also suffering. Among individual names,
were all lower.
iShares Dow Jones U.S. Home Construction
was tumbling 21 cents, or 0.9%, to $23.47. The
SPDR S&P Homebuilders
lost 8 cents, or 0.3%, to $23.81.