ProShares Short 20+ Year Treasury ETF
 (TBF)

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  • Sep. 30, 2015, 8:31 AM
    • The ADP reported 200K private-sector jobs added in September versus estimates for 190K, but revisions to prior months were mostly negative. On balance, we'll call the report a slight miss.
    • The 10-year Treasury yield is at 2.08%, up three basis points on the session, but down two bps from before the ADP print.
    • ADP job gains are slowing down. They averaged 185K per month in Q3 versus 202K per month in Q2, 199K per month in Q1, and 263K per month in Q4 of 2014.
    • Full report
    • TLT -0.5%, TBT +1% premarket
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Sep. 30, 2015, 8:31 AM | 3 Comments
  • Sep. 25, 2015, 9:16 AM
    • The beginning of Q4 is just days away, but it's economic data from Q2 in focus today, with that quarter's GDP growth revised up to 3.9% from 3.7% at the last estimate.
    • The 8:30 ET print caused a quick spike higher in both Treasury yields and the dollar, but both have settled back to levels they were at ahead of the number.
    • The 10-year U.S. Treasury yield is up five basis points to 2.18%, and the dollar index is ahead 0.2%.
    • In a speech after the bell yesterday, Fed boss Janet Yellen promised (again) a rate hike before the books are closed on 2015. Fair enough, but it'll be interesting to see how the Fed walks back that promise should markets suffer another conniption between now and the next FOMC meeting (or the one after). Fed Funds futures are pricing in a bit more than a 50% chance of a rate hike in 2015.
    • ETFs: TBT, TLT, UUP, TMV, UDN, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, FORX, DLBS, USDU, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Sep. 25, 2015, 9:16 AM | 5 Comments
  • Sep. 24, 2015, 9:51 AM
    | Sep. 24, 2015, 9:51 AM | 7 Comments
  • Sep. 17, 2015, 12:41 PM
    • Roughly 90 minutes ahead of the FOMC decision, we'll let Jeff Gundlach have the last word, and he tells CNBC the market isn't prepared for a rate hike. He points to the fixed-income massacre of 1994 as an example of what happened the last time the Fed hiked ahead of market expectations.
    • As for long-dated U.S. Treasury paper, Gundlach likes it more today than a month ago - the 10-year yield having risen to 2.30% from about 2%.
    • If the Fed does hike, he says, he'd be a seller of high-yield bonds (JNK, HYG).
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Sep. 17, 2015, 12:41 PM | 8 Comments
  • Sep. 15, 2015, 1:50 PM
    • With equity investors back in the business of buying low and selling high - the Dow, S&P 500, and Nasdaq are up by more than 1% - money is exiting fixed income.
    • The 10-year Treasury yield is higher by eight basis points to 2.27%, and - far more interestingly given the FOMC meeting this week - the two-year yield has popped 6.8 basis points to 0.794%, its highest level in more than four years.
    • Nevertheless, the October Fed Funds futures contract shows only the most marginal chance of the Fed hiking rates this week, and even the January contract is priced for less than 100% chance of a 25 basis point move this year.
    • TLT -1.7%, TBT +3.4%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Sep. 15, 2015, 1:50 PM | 14 Comments
  • Sep. 11, 2015, 10:25 AM
    | Sep. 11, 2015, 10:25 AM | 1 Comment
  • Sep. 9, 2015, 3:20 PM
    • With the start of the FOMC's 2-day policy meeting one week away, Fed officials aren't close to an agreement to boost interest rates, writes the WSJ's Jon Hilsenrath.
    • "Their recent remarks in interviews and elsewhere showed divisions and uncertainty about whether to move as soon as next week," says Hilsenrath, though two more meetings in 2015 (October and December) still give the central planners a chance to tighten before the year is out.
    • "There are some pretty significant ... headwinds that have developed," says San Francisco Fed President John Williams, suggesting the bank will stay on hold until it's convinced recent market jitters have passed.
    • Even the hawkish Loretta Mester has cut her longer-run outlook for growth, and - when she submits her "dots" next week - expects to maybe cut her view of the long-run Fed Funds rate by 25 basis points to 3.5%.
    • Previously: Larry Summers: Fed needs to stay on hold (Sept. 9)
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, PLW, GOVT, FTT, TENZ, LBND, EGF, DLBL, TYBS, VUSTX, TAPR
    | Sep. 9, 2015, 3:20 PM | 15 Comments
  • Sep. 3, 2015, 2:42 PM
    | Sep. 3, 2015, 2:42 PM | 5 Comments
  • Sep. 1, 2015, 2:37 PM
    • The August NFP number has has a history of disappointing, says Deutsche Bank, forecasting a 170K jobs print vs. consensus at 220K. Wrightson ICAP is shaving 40K from that 220K thanks to August's pattern of falling short, and Stone & McCarthy has brought its estimate down to 220K from 250K due to the calendar.
    • Should Friday's report indeed disappoint and the markets react poorly, it could mean the end of any chance for a rate hike later this month, says Deutsche.
    • In today's action, the 10-year Treasury yield is off just four basis points even as U.S. equity markets tumble more than 2%. Expect to hear more of the newest meme: With the Fed having ended QE and China being forced to sell some of its massive stash of Treasurys to cover sizable capital outflows from that country, where will the marginal buyer of U.S. government paper come from?
    • TLT +0.3%, TBT -0.6%
    • Previously: Deutsche: Central banks to unload $1.5T in FX reserves (Sept. 1)
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, PLW, STPP, GOVT, FLAT, FTT, TENZ, LBND, EGF, DLBL, TYBS, VUSTX, TAPR
    | Sep. 1, 2015, 2:37 PM | 7 Comments
  • Sep. 1, 2015, 10:15 AM
    | Sep. 1, 2015, 10:15 AM | 6 Comments
  • Aug. 28, 2015, 9:06 AM
    • Core prices as measured by personal consumption expenditure - the Fed's preferred inflation gauge - rose just 1.2% Y/Y in July, down down from the 1.3% pace of the year's first half. Overall PCE prices rose just 0.3% Y/Y. The Fed target is 2%.
    • The gauge is as backward-looking as it gets, so what might the future hold? Weakness in China and another downshift in commodity prices could portend even higher deflationary pressures in the States, say economists.
    • The 10-year Treasury yield is down four basis points to 2.14%. TLT +1.1%, TBT -2.2%
    • Previously: Post rebound, Fed speakers lean hawkish (Aug. 28)
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Aug. 28, 2015, 9:06 AM | 4 Comments
  • Aug. 27, 2015, 9:05 AM
    | Aug. 27, 2015, 9:05 AM | 9 Comments
  • Aug. 21, 2015, 3:11 PM
    | Aug. 21, 2015, 3:11 PM | 3 Comments
  • Aug. 20, 2015, 10:56 AM
    • Existing home sales hit a new post-financial crisis high and the Phily Fed index rose past expectations, but the Treasury market is firmly focused on deflation signals across the globe - be it plunging Chinese stocks, sliding emerging markets currencies, or copper and oil plumbing multi-year lows.
    • The Dow is lower by 1.1%, S&P 500 by 1%, and Nasdaq by 1.5%.
    • The 10-year Treasury yield is lower by four basis points to 2.09% - a level not seen since the start of May. TLT +0.8%, TBT -1.6%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Aug. 20, 2015, 10:56 AM | 7 Comments
  • Aug. 17, 2015, 8:48 AM
    • The headline general business conditions index tumbled 19 points to -14.9 - the lowest level since the economy was in recession in 2009. Nineteen percent of those surveyed said conditions had improved over the past month, while 34% said they'd worsened.
    • New Orders fell 12 points to -15.7, and shipments plunged 22 points to -13.8.
    • Prices paid was little-changed at 7.3 and the employee indexes indicated just a bit of softening in labor markets.
    • The index for future business activity rose seven points to 33.
    • Full report
    • The 10-year Treasury yield is lower by five basis points to 2.15%. TLT +0.6%, TBT -1.2%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    • Previously: Empire State Survey at lowest level since 2009 at -14.9 (Aug. 17)
    | Aug. 17, 2015, 8:48 AM | 9 Comments
  • Aug. 11, 2015, 9:48 AM
    • China's surprise devaluation overnight has sparked renewed selling in commodities, a sizable selloff in Europe, and the beginnings of a rough day in equities in the U.S.
    • Oil is re-testing its bear market lows, down 1.5% to $43.50 per barrel. Copper (NYSEARCA:JJC) is off 3.2% to $2.32 per pound, and the grains (NYSEARCA:JJG) are lower across the board. Gold (NYSEARCA:GLD) is seeing some interest though, up 0.5% to $1,109.50 per ounce.
    • Germany's 2.4% decline is leading Europe lower, and the Dow is off nearly 1% in the early going.
    • The 10-year Treasury yield is lower by eight basis points to 2.15%. TLT +1.2%, TBT -2.4%. Checking short-term interest rate futures, they're higher, meaning a smaller chance of Fed rate hikes. The October 2015 Fed Funds contract is up two basis points to $99.76 - pricing in a Fed Funds rate in October roughly 10 basis points higher than it is today.
    • ETFs: TBT, TLT, TMV, IEF, TBF, EDV, TMF, PST, TTT, ZROZ, TLH, SBND, VGLT, IEI, TYO, UBT, DLBS, DTYS, UST, TLO, VGIT, TBX, SCHR, TENZ, GSY, TYD, LBND, ITE, DTYL, DLBL, TYBS, DFVL, FIVZ, VUSTX, TBZ, DFVS, TYNS, SYTL
    | Aug. 11, 2015, 9:48 AM | 9 Comments
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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