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Wall Street has been on choppy ride since the start of 2022 due to rising rate worries. The 10-year U.S. Treasury yield soared to its highest point in two years on Jan 18, 2022, hovering around 1.87%. Rates have been rising in the United States on the Fed’s rate hike bets. Higher inflationary expectations emanating from supply chin disruptions as well as higher crude prices should make Fed members comfortable with rate hikes in the coming days.
The Nasdaq, heavy on technology and growth stocks,plunged 7.6% last week, marking its worst week since March 2020, while the S&P 500 (down 5.7%) and the Dow Jones (down 4.6%) saw considerable losses. The Nasdaq Composite has lost 12% this year as investors continue to walk out of the high-growth tech shares on surging interest rates. The index is now off more than 10% from its November record, ensuring that it has entered correction territory (read: Nasdaq in Correction: ETF Strategies to Play).
Against this backdrop, below we highlight a few ETF areas that were gainers last week despite the market’s bloodbath.
Sprott Physical Platinum and Palladium (SPPP - Free Report) – Up 10.9%
iPatha.B Platinum Subindex TR ETN – Up 6.5%
Palladium, silver and palladium prices were on a tear last week. Worries surrounding inflation and escalating Russia-Ukraine tensions led to the gains in palladium. Russia is rich in palladium. Russia's Nornickel is the world's largest palladium producer. Palladium is used in pollution-reducing catalytic converters in gasoline engines. Investors should note that Palladium jumped to a record in May 2021 before slumping and becoming the worst-performing major commodity of 2021. This has corrected the metal’s sky-high valuation.
Nickel
iPatha.B Nickel Subindex TR ETN – Up 9.5%
Low inventories boosted prices for nickel to their highest since 2011. Future demand is expected to soar due to higher electric vehicle battery consumption.
Chilean markets rallied last week as newly-elected President Gabriel Boric chose central bank head Mario Marcel to head the Finance Ministry. "We believe that Mario Marcel's appointment as future minister of finance is definitely good news, as Marcel is someone with a high credibility who has supported the two pillars of Chile's macroeconomic framework: the independence of the central bank, and the structural fiscal rule," said strategists at Citigroup, as quoted on Reuters.
Rising rates have been the trend recently in the market. Hence, this ETF gained materially last week. This ETF is active and does not track a benchmark. The FolioBeyond Rising Rates ETF is an actively managed exchange-traded fund that seeks to provide protection against rising interest rates while generating current income under stable interest rates.
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4 ETF Areas Up At Least 5% Last Week
Wall Street has been on choppy ride since the start of 2022 due to rising rate worries. The 10-year U.S. Treasury yield soared to its highest point in two years on Jan 18, 2022, hovering around 1.87%. Rates have been rising in the United States on the Fed’s rate hike bets. Higher inflationary expectations emanating from supply chin disruptions as well as higher crude prices should make Fed members comfortable with rate hikes in the coming days.
The Nasdaq, heavy on technology and growth stocks,plunged 7.6% last week, marking its worst week since March 2020, while the S&P 500 (down 5.7%) and the Dow Jones (down 4.6%) saw considerable losses. The Nasdaq Composite has lost 12% this year as investors continue to walk out of the high-growth tech shares on surging interest rates. The index is now off more than 10% from its November record, ensuring that it has entered correction territory (read: Nasdaq in Correction: ETF Strategies to Play).
Against this backdrop, below we highlight a few ETF areas that were gainers last week despite the market’s bloodbath.
Palladium
Physical Palladium ETF (PALL - Free Report) – Up 11.76%
Sprott Physical Platinum and Palladium (SPPP - Free Report) – Up 10.9%
iPatha.B Platinum Subindex TR ETN – Up 6.5%
Palladium, silver and palladium prices were on a tear last week. Worries surrounding inflation and escalating Russia-Ukraine tensions led to the gains in palladium. Russia is rich in palladium. Russia's Nornickel is the world's largest palladium producer. Palladium is used in pollution-reducing catalytic converters in gasoline engines. Investors should note that Palladium jumped to a record in May 2021 before slumping and becoming the worst-performing major commodity of 2021. This has corrected the metal’s sky-high valuation.
Nickel
iPatha.B Nickel Subindex TR ETN – Up 9.5%
Low inventories boosted prices for nickel to their highest since 2011. Future demand is expected to soar due to higher electric vehicle battery consumption.
Chile
Chile iShares MSCI ETF (ECH - Free Report) – Up 6.4%
Chilean markets rallied last week as newly-elected President Gabriel Boric chose central bank head Mario Marcel to head the Finance Ministry. "We believe that Mario Marcel's appointment as future minister of finance is definitely good news, as Marcel is someone with a high credibility who has supported the two pillars of Chile's macroeconomic framework: the independence of the central bank, and the structural fiscal rule," said strategists at Citigroup, as quoted on Reuters.
Rising Rate ETF
Foliobeyond Rising Rates ETF (RISR - Free Report) – Up 6.3%
Rising rates have been the trend recently in the market. Hence, this ETF gained materially last week. This ETF is active and does not track a benchmark. The FolioBeyond Rising Rates ETF is an actively managed exchange-traded fund that seeks to provide protection against rising interest rates while generating current income under stable interest rates.