Biotech ETF XBI Hits an Interest Rate Wall as 40+ Catalysts Approach
The biotech sector is heading into the third-quarter earnings season with a tug-of-war between higher interest rates and an unusually heavy pipeline of company-specific catalysts. The SPDR S&P Biotech ETF (NYSE: XBI ) is up about 27% year to date, but has declined roughly 8.3% in the past 30 days. The S&P 500, meanwhil