SPIB: $2 Million Transit Fees Through Hormuz May Have More Than Doubled Logistics Costs

The State Street SPDR Portfolio Int Term Corp Bd ETF (SPIB) faces heightened risks from the Iran War-induced oil crisis, pressuring both credit spreads and benchmark rates. SPIB's intermediate duration and concentration in single-A and BBB credits make it vulnerable to rising yields and persistent inflationary pressures from ongoing geopolitical disruptions. Even though some vessels are passing, considerable risks and also Iranian tolls significantly increase logistic costs putting a floor on oil in our opinion.