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Another question regarding Bond Yields and NAV relationship to those knowledgeable about these subjects.
I bought VBTLX on 1/11/2018 at $10.69 yielding 2.61%. I looked up the historicals and saw that on 6/13/2003 the fund was $10.68 and yielding 4.44%.
If bond prices are inverse to interest rates then clearly something else is also affecting NAV as demonstrated above since the NAV is almost the same but the yield was almost 2% higher in 2003. What could cause this difference?
So, it looks the NAV has just bounced up and down within a $1.67 window for the past 17 years which is an 8% swing from the median for a 3.28% differential in interest rates.
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