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單一美債ETF成“香餑餑”
uSMART盈立智投 03-06 20:07

隨着短期美國國債ETF出現大量資金流入,越來越多的投資者開始採用單一債券策略,以應對宏觀經濟挑戰。

購買美國國債通常需要在Treasury direct或嘉信理財等經紀公司開設賬戶。 但數據提供商VettaFi的金融分析師 Dave Nadig表示,這往往很複雜。

“這不是說你可以簡單地點擊一個按鈕,就能獲得你在新聞上看到的利率敞口,” Nadig表示,“如果你想做一些類似在15號調整倉位的事情,現在你會遇到另一個完全不同的‘痛苦世界’。”

TreasuryDirect 和經紀公司列出了目前正在拍賣的產品的編碼。Nadig 指出,這可能包括一系列產品,從上個月發行的零息債券到即將到期的15年期票據。

Nadig表示,如此大量的產品使投資者在調整倉位或配置資金時更容易出錯。

Nadig補充稱,所有這些因素都使購買美國國債變得不方便,而且通常比購買 ETF 更昂貴。

在尋求投資短期國債時,Nadig建議投資者購買提供類似敞口的ETF產品。

上週五,2年期美國國債收益率下跌逾4個基點,至4.86%,但今年的回報率仍上升了43個基點。截至上週五收盤,6個月美國國債的收益率仍處於5.137%的高點。

債券ETF產品興起

投資顧問公司F/m Investments首席投資官Alex Morris週一透露,該公司正準備推出6只新的單一債券ETF。

“你會看到6個月、3年、5年、7年、20年和30年的債券出來,”他表示。

該公司於去年8月首次推出了三隻單一債券ETF——美國國債10年期ETF (UTEN)、美國國債2年期ETF (UTWO)和美國國債3個月票據ETF (TBIL)。Morris提到,對ETF的需求上升,推動該公司開發了更廣泛的產品。

“人們要求我們爲他們提供完整的利率工具集,”他表示。“因此,當收益率曲線移動時,他們可以隨之改變。我們將爲人們提供他們所要求的東西。”

更多的單一債券ETF產品可以讓投資者進一步分散投資組合。Nadig解釋道:“你不想把所有的雞蛋都放在一個籃子裏,而且債券傳統上一直是股市波動時的多元化投資工具。”

他表示:“這對人們來說是一個絕佳的機會……他們可以考慮自己可能擁有的其他反向相關資產的作用,無論是他們的房產還是託管期貨產品。”

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