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Treasury ETFs Rise Amid Stock Slide

NEW YORK ( TheStreet) -- Treasury ETFs were among the few ETFs that saw buying interest on Wednesday, as concerns about the economic recovery sent the Dow crashing 264 points. Treasuries also got a boost from the Fed's decision to buy more treasury notes to keep the economy afloat.

Stocks fell across-the-board on Wednesday, a day after the Fed said it expects the U.S. recovery to slow and maintained rates at record lows. The U.S. trade deficit rose 19%, adding to concerns about the economy. That sent equities lower and bond prices higher. The 10-year treasury yield hit record lows at 2.68%.

The PowerShares DB Treasury ETN (LBND), an exchange-traded note that takes a leveraged long view on treasury bonds,rose 1.9%. The iShares Barclays 20+ Year Treasury Bond (TLT) gained 1.3%, while the Pimco 7-15 year Treasury (TENZ) appreciated 0.7%.

Financial ETFs were among the worst hit, with the iShares S&P Global Financials (IXG), which offers an exposure to large-cap, global banks including Banco Santander (SAN) and HSBC (HSC), tanked 4.6%.

Commodity stock ETFs were weaker. The Global X Copper Miners ETF (COPX) plunged 5.7%, while the Market Vectors Steel ETF (SLX) is down 4.9%.

--Reported by Shanthi Venkataraman in New York.

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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HBC $0.00 0.00%
COPX $6.67 0.00%
LBND $60.38 0.00%
IXG $56.90 0.00%
SLX $31.10 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

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