- The bond market was closed today for Veteran's Day, but the iShares 20+ Year Treasury Bond ETF (NYSEARCA:TLT) was open for business and it fell another 0.6%, bringing its loss this week to 7.4% - the largest weekly decline since inception in 2002. Its leveraged inverse cousin, the ProShares UltraShort Lehman 20+ Year ETF (NYSEARCA:TBT) gained more than 14% for the week.
- The yield on the 10-year Treasury had its biggest surge in three years, closing the week at 2.15%.
- In no surprise, the flow out of fixed income came as the S&P 500 posted its best week in two years, and the Dow its best week in five years.
- The sharp rise in yields - not just in the U.S., but globally - could snuff out global reflation, warns Goldman, which sees 2.50% as a level the U.S. economy can handle without threatening growth.
- Related ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, UBT, DLBS, TLO, VUSTX, DLBL, TYBS
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Popular long-dated bond ETF suffers worst weekly loss ever
Published 11/11/2016, 04:39 PM
Popular long-dated bond ETF suffers worst weekly loss ever
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