US 10-year Bond Yield
US retail sales data tumbled by the most in nearly two years in January, reflecting harsher winter weather and the impact of the ferocious wildfires in Los Angeles.
BetaShares Treasury Bond 20+ year ETF (GGOV US)
GGOV —
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Performance
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Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
No quote stored for this listing yet.
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
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- Shares Issued
- 84,920,000
- NTA/Share
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- Last Dividend
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- Dividend Ex Date
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- Dividend Pay Date
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Current (AUD)
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
This data is not available at the moment.
Estimates (AUD)
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
No consensus estimates are available for this company.
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
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Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | — |
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| Pricing date | — |
| Volume - avg. trading volume for the last ten days | 0.53 |
| Market capitalization | — |
| 12 Month High price date | — |
| 12 Month Low price date | — |
| Volume - avg. trading volume for the last 3 months | 0.81 |
| Price - 1 Day % Change | — |
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| Price - 26 week price percent change | — |
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| Price - 52 week price percent change | — |
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Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
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| EPS Basic excluding extraordinary items - most recent fiscal year | — |
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| Free Cash Flow per share - trailing 12 month | — |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | — |
| P/E Normalized, most recent fiscal year | — |
| Price to sales - most recent fiscal year | — |
| Price to Tangible Book - most fiscal year | — |
| Price to Free Cash Flow per Share - most recent fiscal year | — |
| Price to Cash Flow per share - trailing 12 month | — |
| Price to Book - most recent fiscal year | — |
| P/E excluding extraordinary items high, trailing 12 months | — |
| P/E excluding extraordinary items low, trailing 12 months | — |
| Net Debt, LFI | — |
| Net Debt, LFY | — |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | — |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | — |
| LT debt/equity - most recent fiscal year | — |
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| Free Cash Flow - trailing 12 month | — |
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Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
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| Earnings before taxes - most recent fiscal year | — |
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| Net Income available to common - most recent fiscal year | — |
| Net Income available to common - trailing 12 months | — |
| Earnings before taxes Normalized - most recent fiscal year | — |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | — |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | — |
| Net Profit Margin % - trailing 12 month | — |
| Operating margin - 1st historical fiscal year | — |
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| Operating Margin - 5 year average | — |
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| Free Operating Cash Flow/Revenue, 5 Year Average | — |
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Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
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| Net Income/employee - most recent fiscal year | — |
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Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | — |
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| Growth rate% - dividend, 3 year | — |
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| Book value per share growth rate, 5 year | — |
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| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (AUD, millions except per share)
No consensus estimates are available for this company.
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (AUD, millions)
Financial statements are not available for this company yet.
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
Announcements are available for ASX-listed companies only.
Opinion
US 2-Year Bond
US bonds are waiting on the US inflation data and Fed testimony later this week. Still, the foundations have already been laid for a cautious, less dovish stance until the outlook under Trump becomes clear.
BetaShares Treasury Bond +20-year ETF (GGOV) $16.16
The recent panic to the safety of bonds has seen yields fall as we have discussed at length through recent reports. While we can see some short-term consolidation as calm returns to financial markets with last night’s weaker than expected inflation read adding confidence to our view that bonds will ultimately track higher into 2024 i.e. yields lower.
BetaShares U.S. Treasury Bond 20+ year ETF (GGOV) $16.44
We started to fade bond yields a touch too early across our portfolios but things have slowly started to move in our direction and last night’s market friendly US inflation print has reinforced our view that bonds go higher/yields lower into 2023 i.e. overnight US 2-year yields fell 0.15% to close at 4.22%. While the Feds still lurking in the wings this week we believe it’s time to squeeze the crowded short bond trade.
Global Macro ETF Portfolio
The MM Global Macro ETF Portfolio fell -3.3% last week while enjoying small gains by the Invesco DB Agriculture Fund (DBA US) +0.4% and the Sprott Physical Uranium Trust (CAD) +0.4% who were both helped by the strong $US whereas the BetaShares Strong Australian Dollar (AUDS) -7.8% and BetaShares Global Gold Miners ETF (MNRS) -6.6% led the declines.
Global Macro ETF Portfolio
The MM Global Macro ETF Portfolio slipped -0.78% last week enjoying strong gains by the Invesco DB Agriculture Fund (DBA US) +3.6%, while the ETFS Battery & Lithium ETF (ACDC) also added +0.2%, on the other side of the ledger the BetaShares strong Australian Dollar ETF (AUDS) -4.7% and BetaShares Asia Technology Tigers ETF (ASIA) -3.3% weighed on the portfolio.
BetaShares Treasury Bond 20+ year ETF (GGOV) & ProShares Ultra Short Yen (YCS US) ETF
The weakness in the Bonds, as yields rise, and strength in the USDYPY as the Yen plumbs fresh 24-year lows couldn’t be more pronounced but we believe both moves are maturing extremely fast i.e. its hard to imagine the news around interest rates & inflation deteriorating further in 2022. These are both major macro moves that MM has been discussing for months...
Global Macro ETF Portfolio
The MM Global Macro ETF Portfolio rallied +3.2% last week enjoying strong gains by the ETFS Battery Tech & Lithium ETF (ACDC) +7.2% and the Global X Copper ETF (COPX US) while our Physical Uranium Trust (U-U CN) -0.5% was the only position to fall.
BetaShares Treasury Bond 20+ year ETF (GGOV) $17.00
Clearly, this position would be against the strong trend of the last 9-months hence we have no interest in playing our view via an aggressive leveraged ETF plus we are remaining fussy towards our entry-level. We like the ASX traded BetaShares GGOV ETF as a bullish vehicle for exposure to longer-dated US bonds e.g. it bounced +11.5% from its June low as US 10-year bond yields pulled back from 3.5% towards 2.5% illustrating its lack of leverage, if we are correct...
Action
Updated
09/11/2026
09:28
Active
VGB
Updated 09/11/2026 09:28
MM prefers Australian bonds over their US peers
Updated
09/11/2026
09:27
Active
GGOV US
Updated 09/11/2026 09:27
MM is bullish towards US 10s (yields lower)
Updated
26/10/2026
09:11
VGB
Updated 26/10/2026 09:11
MM remains bullish towards US and local 10-year bonds – yields lower
Updated
12/10/2026
09:22
GGOV US
Updated 12/10/2026 09:22
There are some signs that bond yields are at or near a peak
Updated
06/10/2026
08:56
GGOV US
Updated 06/10/2026 08:56
We are cautiously bullish/neutral towards US bonds (yields lower)
Updated
28/09/2026
09:36
GGOV US
Updated 28/09/2026 09:36
We are cautiously bullish/neutral towards bonds (yields lower)
Updated
31/08/2026
09:31
GGOV US
Updated 31/08/2026 09:31
MM is cautiously bullish towards US 30-year bonds (yields lower)
Updated
24/08/2026
08:41
GGOV US
Updated 24/08/2026 08:41
MM is cautiously bullish towards US 30-year bonds (yields lower)
Updated
20/08/2026
09:06
GGOV US
Updated 20/08/2026 09:06
We can see the Fed slowly unwinding the “bear steepener’ into 2027
Updated
18/08/2026
09:11
GGOV US
Updated 18/08/2026 09:11
MM is neutral towards US 30-year bonds
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