Nasdaq 100 ETF Rises 1% as Convertible Bond ETF Also Leads US Asset Class ETFs

The standout is the pairing of a 1% Nasdaq 100 gain with a near-1% move in convertible bonds, which sit between equity and credit and tend to track risk appetite with a lag. That both led while long-duration Treasuries and the long-dollar ETF barely moved suggests the session was about growth exposure rather than rate or currency positioning. Real estate's 0.86% decline, the weakest reading in the list, hints at continued rate sensitivity beneath the surface. Whether convertibles keep pace with equities or fade once the risk bid broadens is the open question.