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Yields fly, dollar dips after ECB actions

Dec. 03, 2015 10:13 AM ETTLT, TLH, UUP, UDN, SPTL, EDV, TBT, TMF, TMV, TBF, TENZ, ZROZ, VGLT, UBT, LBND, SBND-OLD, DLBL-OLD, DLBS, TYBS, TTT, FORX, USDU, VUSTXBy: Stephen Alpher, SA News Editor5 Comments
  • The ECB earlier cut its deposit rate further into negative territory and extended the length of the QE program, but the central bank failed to give markets what they want - a boost in the amount of QE, or expansion into asset classes like regional bonds, ABS, or used exercise equipment which never seems to sell on Craigslist.
  • As a result, European stocks are tumbling, and the euro and bond yields are on the rise.
  • Treasurys are also taking the news hard, with the 10-year yield up nine basis points to 2.27% (all of this move came before Janet Yellen told Congress she is "looking forward" to hiking rates). TLT -1.7%, TBT +3.4%
  • On the flipside of the soaring euro is the dollar (UUP -1.5%).
  • ETFs: TBT, TLT, UUP, TMV, UDN, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, FORX, DLBS, USDU, TLO, TENZ, LBND, DLBL, TYBS, VUSTX

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