On the move

Markets edged higher across the board today. The biggest move came from the Fidelity Select Biotechnology (FBIOX, up 1.50%) fund.

The not so good news is the continued decline of bonds following news of the Federal Reserve’s intention to sell Treasury Bonds in order to shrink the balance sheet. With interest rates rising as a consequence, the Fidelity Spartan Long-term Treasury Bond Index (FLBIX, down 0.89%) fund is trending lower.

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