Stocks continued their run this week as investors once again embraced risk after the announcement of a preliminary European debt deal.
Since September 22, the SPDR S&P 500 ETF (SPY) is up 14% while the Barclays Capital 20+ Year Treasury Bond Fund (TLT) is down 10% over the same time period.
The Associated Press reported that after several delays and half-measures, the deal to greatly increase the firepower of the European continent’s bailout fund and to knock 100 billion euro ($140 billion) off of what Greece owes hit the right notes, and stocks rocketed up on Thursday.
SPY tracks the SP 500 Index. The index is market-cap weighted and includes 500 U.S. companies with market caps in excess of $5 billion. The expense ratio for the $90 billion ETF is 0.0945%.
TLT tracks Barclays Capital 20+ Year Treasury Bond Fund index. The expense ratio for the $3.3 billion ETF is 0.15%.
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– ETF MarketPro Staff
October 28, 2011