/Spring Arrives with a Backup in Rates

Spring Arrives with a Backup in Rates

Monday, March 22, 2021 – U.S. equity markets felt the
pressure of the continuing rise in rates, a mix of economic news and plans for
the first major federal tax increase in almost thirty years. For the week, the
DJIA shaved 150.67 points to close at 32,627.97, the S&P 500, after closing
at an all-time high on Wednesday, lost 30.24 points to close at 3,913.10 and
the Nasdaq lost 104.63 points to close at 13,215.24.

The markets appeared most focused on the Federal Reserve
meeting and the rise in yield for 10 year U.S. treasuries as they cracked 1.75%
during the week. Despite a rally following the Fed Meeting, rising rates and a
steepening yield curve seem to represent the primary market concerns. While the
Fed appears to have adopted a wait-and-see stance on potential inflation, more
details around the Infrastructure Plan should be imminent with Transportation
Secretary, Pete Buttigieg, testifying before the House this week. The same
storylines surrounding the reopening of the economy persist and remain fluid as
vaccinations are distributed and regions begin to relax Covid protocols.

ETFG Quant Movers –
Those ETFs who have had the largest weekly change in their ETFG Quant Total
Scores.

ETFG
Weekly Quant Winners
: The three biggest gainers in their ETFG
Total Quant Scores were found in the Fidelity MSCI Information
Technology Index ETF
(FTEC) which gained 13.15 points to 44.50, the Invesco Variable Rate Preferred
ETF
(VRP) which added 8.44 points to 59.25 and the Amplify Online Retail ETF (IBUY) which climbed 8.10 points to an ETFG Total
Quant Score of 67.30.

ETFG
Weekly Quant Losers
: The three biggest drops in their respective ETF Quant Total
Scores were found in
the John Hancock Multifactor
Financials ETF
(JHMF) which dropped 10.08 points to 41.25, the ELEMENTS SPECTRUM ETN (EEH) losing 8.73 points and the Barclays Women in Leadership ETN (WIL) which retrenched 7.49 points in its ETFG
Total Quant Score.

Thanks for reading ETF Global Perspectives and have a great week!

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Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.

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