Homebuilder ETF Rallies as Treasury Yields TumbleBy
The SPDR S&P Homebuilders ETF, symbol XHB, is headed for a sixth straight daily gain that’s taken it to its highest level in almost two years as the U.S. housing market continues to heat up. Wednesday’s rise is somewhat unusual in that it comes ahead of a Federal Reserve policy decision that’s near certain to deliver increased interest rates. Investors are taking solace in 10-year Treasury note yields that plunged to the lowest level since November.
— With assistance by Gilbert Xu