I am tracking XAGH: iShares U.S. Aggregate Bond Index ETF CAD-Hedged and am wondering how come the value slightly fell when interests rate dropped? Shouldnt this ETF be inversely related to the interest rates?
For more context:
Sept 17 @ 9:30 AM: 34.81
Sept 18 @ 4 PM: 34.58
But on Sept 18, the Fed cut the rates. Shouldnt this ETF rise quite sharply? Why did the opposite happen?
Submitted September 23, 2024 at 11:38PM by dmkhara https://ift.tt/OpkMzxF
