State Street SPDR Bloomberg International Treasury Bond ETF

BWX

Market cap $1.33B

The outlook for long-term total return for the Global Market Index (GMI) edged up again in June, touching the highest level in recent history. Despite the recent rise, the expected performance remains well below GMI's realized return over the trailing ten-year window.

Nuclear is the next big theme in energy. If you aren't already invested, there's still time.

Cameco's uranium mining business is firing on all cylinders again. BWX's backlog is swelling as it lands more government and commercial contracts.

ATI extends its strategic material supply agreement with BWXT through fiscal 2030, supporting the U.S. Naval Nuclear Propulsion Program.

The SPDR Bloomberg International Treasury Bond ETF faces downside risk due to rising global rates driven by the Iran conflict. BWX's 7.4-year duration and 2.8% SEC yield leave it vulnerable to further drawdowns if inflation persists. Prolonged Middle East instability is fueling higher oil prices, stoking inflation, and prompting central banks to tighten policy.

Prices for raw materials have rocketed higher so far this year, outperforming the rest of the major asset classes by a wide margin through Friday's close (Jan. 23), based on a set of ETFs.

Echoing the strong run in foreign equities in 2025, bond markets ex-US are also having a good year. Using a set of ETFs to track the major international buckets of fixed-income securities shows across-the-board outperformance over a popular US benchmark through Wednesday's close (Dec. 17).

HEI and TDG are BWX Technologies's competitors in the Aerospace & Defense sector that demonstrate:

With talk of rate cuts getting more audible, they almost seem inevitable. Indeed, the CME FedWatch is forecasting an almost 90% chance of cuts.

BWX ETF offers attractive exposure to international government bonds, especially Japan, as global disinflation trends limit further rate hikes outside the US. The ETF's high duration (7.8 years) makes it a higher-sensitivity way to play an ex-US rate cut and incidentally also exposes investors to international FX in a dollar-negative environment. Japan's limited rate hike potential, due to new economic pressure and greater trade competition, supports a positive outlook for BWX's rate-sensitive portfolio.