ProShares Short 20+ Year Treasury ETF (TBF) - NYSEARCA
  • Wed, Jul. 20, 2:04 PM
    • With much of the globe's "safe" sovereign debt trading at negative yields, investors worldwide have been snapping up long-dated Treasurys whose yields positively tower over the alternatives.
    • It's a dangerous game, says Oksana Aronov of JPMorgan, noting the real yield on the U.S. 10-year is negative, the lowest since 1980, and actually lower than similarly-dated Japanese paper.
    • "We’re seeing this tremendous flow into the bond space at a time when the risks are, frankly, unprecedented,” Aronov tells Bloomberg. "There is no free lunch, and on a real basis, you are really not buying something that's of tremendous value."
    • The 10-year Treasury yield is higher by 2.75 basis points today to 1.582%.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Wed, Jul. 20, 2:04 PM | 8 Comments
  • Tue, Jul. 19, 9:10 AM
    • With markets having shrugged off the Brexit vote, Fed officials are growing more confident about raising rates before year-end, and possibly as early as September, writes Jon Hilsenrath.
    • Though no change is nearly assured at the late-July FOMC meeting, the policy statement may signal belief the economy is on more solid ground than when the dovish call was made at the June meeting.
    • That could be a surprise for traders, who have currently priced in only about a 12% chance of a September Fed move.
    • The 10-year Treasury yield is lower by 1.6 bps this morning to 1.57%. TLT +0.4%, TBT -0.8%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Tue, Jul. 19, 9:10 AM | 18 Comments
  • Fri, Jul. 15, 10:19 AM
    • The 10-year Treasury yield continues to make its way back to its pre-Brexit level, up another five basis points to 1.59%. Helping the move today were stronger-than-expected reads on June retail sales and inflation.
    • The 10-year was in the 1.70% area prior to the vote, and dropped to about 1.35% in the days after. TLT -0.7%, TBT +1.4%
    • Short-term rate futures markets are again pricing in a sizable chance of a rate hike this year, roughly 40% at the moment. At one point in early late June, the chance of a rate hike had been pushed all the way back to 2018.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Fri, Jul. 15, 10:19 AM | 1 Comment
  • Tue, Jul. 12, 1:31 PM
    • With Europe having mostly erased its post-Brexit declines, and the U.K. and U.S. both higher today than they were prior to the vote, flight-to-safety types are headed for the exits.
    • The U.S. 10-year yield is up by another nine basis points today to 1.52%, its highest level this month. The two-year yield is up five bps to 0.685%, its strongest since the vote. TLT -1.7%, TBT +3.4%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Tue, Jul. 12, 1:31 PM | 6 Comments
  • Fri, Jul. 8, 11:25 AM
    • The Fed is not likely to see today’s jobs report (I, II) as a reason to raise short-term interest rates at this month's meeting, but the numbers do increase the chances of a rate hike as early as September, WSJ's Jon Hilsenrath writes.
    • The pace of job creation appears to have cooled in recent months, despite the strong June results - for Q2 as a whole, payroll growth averaged 147K/month, down from 196K in Q1 and 229K in 2015 - but the slowdown was not as severe as officials feared a month ago.
    • Hilsenrath believes Fed officials now will want to see follow-through and make sure the economy is really on its feet after a volatile H1, and will want to be sure markets are stable in the wake of the Brexit vote.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Fri, Jul. 8, 11:25 AM | 3 Comments
  • Wed, Jul. 6, 8:18 AM
    • "As a pension fund, you’ve got to be scared that rates could actually go lower,” says Shyam Rajan, head of U.S. rates strategy at BAML. With the $3T U.S. corporate pension industry needing to throw its rate assumptions out the window, retirement funds could add a great deal of fuel to the current bond market rally.
    • Pension funds currently have just 6% of their assets in Treasurys, half of the peak seen in the 1980s.
    • Rajan: “There’s a perceived permanence to this rate rally. If you were assuming that rates were going to go back to 3 percent, that’s not going to happen anytime soon.”
    • The 10-year yield is down by another 4.4 basis points today to a new record low of 1.333%. TLT +0.8%, TBT -1.6%
    • ETFs: TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Wed, Jul. 6, 8:18 AM | 3 Comments
  • Tue, Jul. 5, 3:34 AM
    • Treasuries began a holiday-shortened week right where they left off, with 30-year yields sliding to an unprecedented 2.15% and the 10-year falling to a record 1.378%.
    • "It's quite difficult to judge how low is too low for yields amid a slower outlook for global growth," said Tomohisa Fujiki, strategist at BNP Paribas. "Prior to the U.K. referendum, this [Friday's] payrolls report was considered one of the most important events to watch."
    • According to fed fund futures data, the probability of a U.S. rate hike by year-end now stands at 12%, from 59% a month ago.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Tue, Jul. 5, 3:34 AM | 3 Comments
  • Fri, Jul. 1, 5:09 AM
    • The U.K.'s 10-year government yield sank another 6 basis points overnight to a fresh low of 0.81% after Mark Carney suggested the BoE could cut rates this summer as the economy suffers from "post-traumatic stress disorder."
    • Gilt yields on short-term paper also fell into negative territory for the first time.
    • U.S. Treasury prices are joining the party ahead of the New York open, with the 10-year yield dropping 11 bps to a decade low of 1.378% this morning.
    • ETFs: TLT, TBT, TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Fri, Jul. 1, 5:09 AM | 10 Comments
  • Mon, Jun. 27, 5:12 AM
    • British 10-year sovereign bond yields have dropped below 1% for the first time to hit a new record low.
    • The fall came after Moody's downgraded its U.K. sovereign rating to negative from stable, citing diminished policy predictability and economic effectiveness as a result of the EU referendum.
    • Meanwhile, 10-year U.S. Treasury yields have extended their fall to 1.47%, tumbling 10 basis points this session.
    • ETFs: TLT, TBT, TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Mon, Jun. 27, 5:12 AM | 22 Comments
  • Fri, Jun. 24, 7:41 AM
    • The 10-year Treasury yield has plunged a full 21 basis points to 1.53% after the U.K. voted to leave the EU. It's the largest one-session decline since the panicky late summer of 2011. TLT +3%, TBT -6% premarket
    • Short-term interest rate futures have now begun pricing in a rate cut, with the Oct. 2016 Fed Fund contract at 99.67 three basis points higher than the July contract.
    • The German 10-year Bund yield is down a whopping 17 basis points to negative 0.07%. The U.K. 10-year Gilt yield is off 30 basis points to 1.07%.
    • Yields on the periphery are headed the opposite way - the Italian 10-year is up 14 bps to 1.45%, and Spain is up 12 bps to 1.6%.
    • The 10-year JGB yield is down 5.6 bps to negative 0.196%.
    • Previously: Futures down sharply as Europe crashes post-Brexit (June 24)
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Fri, Jun. 24, 7:41 AM | 43 Comments
  • Mon, Jun. 20, 12:29 PM
    • The 10-year Treasury yield fell to as low as 1.52% last week after the Fed's surprise retreat from rate-hike talk, but it's returned all the way back to 1.67% after a weekend poll showed support for a Brexit slipping (vote is on Thursday).
    • Was the Fed's dovish shift solely due to Brexit fears? It won't be long before we find out. For now, Fed Funds futures have upped the odds of a rate hike this year - though it's still roughly a zero chance for July, a move at some point in 2016 is just over 50%.
    • TLT -0.95%, TBT +1.9%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Mon, Jun. 20, 12:29 PM
  • Thu, Jun. 16, 11:47 AM
    • The yield on the 10-year Treasury earlier fell as much as seven basis points to 1.52% - its lowest level in four years and within sight of its all-time low of 1.39%. It's since bounced back to 1.54%.
    • The two-year Treasury yield is off another seven basis points to 0.66% - its lowest level since the Feb. 11 bottom of 2016's market panic.
    • The Fed's dovish retreat yesterday combined with growing fears of a Brexit (the vote is one week away) are at work.
    • Across the pond, the German 10-year Bund yield is down 1.3 basis points to negative 0.02%, and the Swiss 30-year bond has fallen to negative territory - making that country the first one ever with government bond yields below zero all the way out to 30 years on the curve. U.K. 10-year Gilt yields are down to 1.11%.
    • TLT +0.8%, TBT -1.6%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Thu, Jun. 16, 11:47 AM
  • Wed, Jun. 15, 2:16 PM
    • The FOMC stayed on hold as expected, but the "dots" showed a sizable downsizing in expectations for future rate hikes. The policy statement showed no hint of any interest in hiking rates in July. Six Fed members expect just one rate hike in 2016 - that's up from a few weeks ago, when just one saw only a single move this year.
    • 2017 and 2018 Fed Funds rate projections were cut as well.
    • As for GDP, the seers see growth of 2% this year vs. 2.2% expected weeks ago. 2017 is cut to 2% from 2.1%. 2018 remains at 2%.
    • PCE inflation this year is expected to be 1.4% vs. just 1.2% at last projection. 2017 remains at 1.9%, and 2018 at 2%.
    • The 10-year Treasury yield is lower by 3.8 basis points to 1.576%, but the big move is in 2-year yields, which are off a full six basis points to 0.67%.
    • There's partying in the Fed Funds pits, where traders now have priced in just a 50% chance of a rate hike anytime this year.
    • TLT +0.45%, TBT -0.9%
    • Previously: Fed stays on hold, sees fewer future rate hikes (June 15)
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Wed, Jun. 15, 2:16 PM | 2 Comments
  • Thu, Jun. 9, 11:26 AM
    • What's going on here? The yield on the 10-year Treasury has fallen all the way back to 1.66% - that's the level it was at on February 11 when oil was below $30, credit spreads were blowing out, and the Dow was nearly 3K points lower. The yield on the 30-year Treasury of 2.46% is the lowest since February 2015.
    • The yield on the 2-year Treasury, though down to 0.77% after nearly touching 1% a couple of weeks back, remains well above the level of February 11 as the Fed preps for a summer rate hike.
    • It all adds up to a sharply flatter yield curve - the 2 year/10 year spread is just 89 basis points, the slimmest since late 2007. The Fed and most Wall Street economists today (as they did in 2007) shrug off the predictive power of the flat yield curve. TLT +0.55%, TBT -1.1%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, STPP, FLAT, LBND, VUSTX, TYBS, DLBL
    | Thu, Jun. 9, 11:26 AM | 24 Comments
  • Wed, Jun. 1, 10:12 AM
    • The PMI rose to 51.3 in May from 50.8 previously. Expectations had been for a modest decline. Leading the surprise increase was an outlier of a jump in Supplier Deliveries to 54.1 from 49.1. A higher number means delivery times are lengthening. Prices paid also saw a sizable 4.5 point increase to 63.5.
    • New Orders edged lower to 55.7, and Production fell 1.6 points to 52.6.
    • Despite the better-than-expected print, Treasurys are holding onto gains, with the 10-year yield down 2.5 basis points to 1.82%. TLT +0.65%, TBT -1.3%
    • Full report
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Wed, Jun. 1, 10:12 AM
  • Tue, May 31, 10:10 AM
    • The Chicago PMI unexpectedly slipped to 49.3 in May, its lowest level since February, and the sixth time in the last 12 months its been in contraction zone.
    • The May decline was led by a 6.6 point fall in Production, and a more mild setback in New Orders - with both subindexes slipping below 50.
    • Turning to consumer confidence, it fell in May to 92.6 from 94.7 in April, confounding expectations for a sizable increase.
    • Nevertheless, the hawks are in charge now at the FOMC, and the 10-year Treasury yield remains higher on the session by three basis points to 1.88%. TLT -0.5%, TBT +1%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, UBT, DLBS, TLO, LBND, VUSTX, TYBS, DLBL
    | Tue, May 31, 10:10 AM | 1 Comment
TBF Description
ProShares Short 20+ Year Treasury seeks daily investment results, before fees and expenses and interest income earned on cash and financial instruments, that correspond to the inverse (opposite) of the daily performance of the Barclays Capital 20+ Year U.S. Treasury Index.
See more details on sponsor's website
Country: United States
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