ProShares UltraShort 20+ Year Treasury ETF
 (TBT)

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  • Wed, Feb. 3, 8:23 AM
    • January's private-sector job gain of 205K moderated from December's big 267K advance (revised from an originally reported 257K), but it beat expectations of 190K.
    • Job growth in the three months ended in January averaged 224K vs. 185K in the previous three months, and 199K in the three months prior to that. What's a central banker to do?
    • The 10-year Treasury yield remains higher by three basis points to 1.88%.
    • TLT -0.45%, TBT +0.9% premarket
    • Full ADP report
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Wed, Feb. 3, 8:23 AM | 5 Comments
  • Tue, Feb. 2, 9:50 AM
    • An early slump in equities and a resumption of the downtrend in oil has money pouring into Treasurys today, with the 10-year yield lower by a full seven basis points to 1.88% - a level not seen since April.
    • Thirty-day Fed Funds futures are now pricing in less than a 100% chance of even one rate hike this year.
    • TLT +1.2%, TBT -2.4%
    | Tue, Feb. 2, 9:50 AM | 3 Comments
  • Mon, Feb. 1, 10:25 AM
    • The PMI edged up to 48.2 in January from 48 in December, but remained at a level signalling an overall decline in manufacturing activity.
    • New Orders and Production, however, both rose above 50.
    • Employment fell to 45.9 from 48. Supplier deliveries rose to 50 from 49.8, and Backlogs rose to 43 from 41.
    • Prices remained at 33.5.
    • Already higher ahead of the report, the 10-year Treasury yield remains up by three basis points to 1.95%. TLT -0.4%, TBT +0.8%
    | Mon, Feb. 1, 10:25 AM
  • Fri, Jan. 29, 10:22 AM
    • The Chicago PMI surged 12.7 points in January to 55.6 - its highest level in a year. The move is from a Q4 which was the weakest three months since Q3 of 2009.
    • Even with January's big print, the three month trend moves up to just 48.7 from 47.7 in December.
    • A jump in New Orders to 58.8 led the way this month, and Production also popped back over the 50 level. Order Backlogs also rose sharply, but remain below 50 for the 12th straight month. Supplier Deliveries was the only component to decline, falling 4.5 points to 49.2.
    • MNI Chief Economist Philip Upglow says PMI gains of such high magnitude tend to not be maintained, so he expects a February pullback.
    • Full report
    • Treasurys have given back so of their big early advance, but the 10-year yield remains lower by three basis points to 1.95%.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Fri, Jan. 29, 10:22 AM
  • Fri, Jan. 29, 8:40 AM
    | Fri, Jan. 29, 8:40 AM | 8 Comments
  • Wed, Jan. 27, 2:10 PM
    • The S&P 500 (SPY -0.1%) and DJIA (DIA -0.3%) remain near flat, and the Nasdaq (QQQ -0.9%) modestly lower after the FOMC considerably softens its recent hawkish tone.
    • Trading at 2.05% ahead of the announcement, the 10-year Treasury yield slips to 2.02%. TLT -0.2%, TBT +0.4%
    • Gold adds $6 per ounce to $1,121 - right about its highest level since late October. GLD flat on the session.
    • The dollar (UUP -0.2%) weakens across the board, and is now modestly lower today.
    • Previously: Fed waves white flag (Jan. 27)
    | Wed, Jan. 27, 2:10 PM | 19 Comments
  • Tue, Jan. 26, 2:20 PM
    • The script says yields need to go higher on days when equities rally hard, but the 10-year Treasury yield just inched below 2% - off one basis point on the session. The Fed, of course, began its two-day policy meeting today and no one expects a rate hike when the decision is announced tomorrow.
    • The policy statement should hopefully contain some hint as to whether the central bankers - given the tumult in markets and plunge in bond yields since moving in December - are backing off threats to boost rates further at their March meeting.
    • Fed Funds futures are pricing in about a one-in-three chance of a 25 basis point move in March.
    • TLT +0.2%, TBT -0.4%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Tue, Jan. 26, 2:20 PM
  • Wed, Jan. 20, 8:44 AM
    • With global markets in full retreat and U.S. stock index futures lower by nearly 2%, money is flowing into government paper - the 10-year yield is down nine basis points to 1.97%.
    • Except for a brief flirtation on Friday, 2% hadn't been breached since October, and the yield was about 2.30% when the Fed hiked short-term rates in December.
    • Maybe more frustrating for the central planners at the Eccles Building, the two-year Treasury yield - which they would seemingly have a lot more control of - has plunged to 0.82% from 1.09% in the wake of December's rate hike.
    • FOMC speakers continue to remain on record as promising four rate hikes this year. Futures markets now say one more at most, and Ray Dalio contends the Fed's next move will be to ease. Might the Fed say "uncle" this week?
    • Earlier: December CPI and Housing Starts come in soft.
    • TLT +1.2%, TBT -2.4%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Wed, Jan. 20, 8:44 AM | 8 Comments
  • Fri, Jan. 15, 8:52 AM
    • Retail sales unexpectedly slipped in December, and the NY Fed's manufacturing survey shows business activity in that region tumbling at the fastest pace since the Great Recession.
    • Remaining below zero for the sixth straight month, the general business conditions index fell 13 points to -19.4%. New orders plunged a full 17 points to -23.5 and shipments declined 19 points to -14.4. Indexes for the six-month outlook also fell sharply - down 26 points to 9.5, the lowest level since 2009.
    • The 10-year Treasury yield is lower by 11 basis points to 1.99% - its first time below 2% in three months, and now off about 30 basis points since the Fed hiked a month ago. TLT +1.5% premarket, TBT -3%
    • Also helping Treasurys is what is now a 2%+ decline in major U.S. stock index futures. SPY -2.4% premarket
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Fri, Jan. 15, 8:52 AM | 50 Comments
  • Wed, Jan. 13, 2:56 PM
    • The day's declines have picked up a good bit of steam, with all of the major averages sitting at session lows a bit more than an hour before the close.
    • The Nasdaq (NASDAQ:QQQ) and Small-caps (NYSEARCA:IWM) are leading the way with declines of more than 3%, while the Dow (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) are off just over 2%.
    • Leading sectors on the downside: Energy (XLE -2.5%) and Financials (XLF -2.4%). What's working? Utilities (XLU), barely.
    • In the green for most of the session, oil is now modestly lower and threatening to head below $30 per barrel.
    • Money is pouring into fixed income, with the 10-year Treasury yield off another five basis points today to 2.05%. It hasn't been below 2% since early October. TLT +1%, TBT -2%
    | Wed, Jan. 13, 2:56 PM | 10 Comments
  • Tue, Jan. 12, 1:44 PM
    • Mulling a stock market that can't seem to put together a sustained rally and oil within pennies of sinking below $30 per barrel, investors today pour money into long-dated U.S. government paper, sending the 10-year yield down eight basis points to 2.10%, its lowest level since late October.
    • Long bond permabulls (right so far) Van Hoisington and Lacy Hunt aren't surprised, citing anemic economic activity as 2015 drew to a close. The team says the 3% estimated gain in nominal GDP in 2015 was the smallest for any year since the recession. The global picture doesn't look any better.
    • They again take to task QE, and note the growing empirical evidence casting doubt on its efficacy.
    • "We believe that the long awaited secular low in long-term Treasury bond yields remains ahead."
    • TLT +1.5%, TBT -3%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Tue, Jan. 12, 1:44 PM | 2 Comments
  • Mon, Jan. 11, 10:32 AM
    • That Treasurys aren't going into the tank as China becomes a net seller for the first time ever isn't much of a surprise to those who saw that country's previous buying of U.S. government paper as little more than an automatic accounting necessity.
    • Previous massive capital inflows into China left that country's banks with greenbacks which were turned over to the PBOC in exchange for freshly printed yuan. The PBOC then took those dollars and bought (mostly) U.S. paper.
    • With inflows turning into outflows, China isn't getting any net greenbacks with which to invest, and instead needs to sell its Treasury holdings to raise dollars with which it can buy up the yuan that nobody else seems to want at the moment.
    • Naturally, plenty of buyers - no longer pouring money into China - are gladly stepping in to take the other side of Beijing's Treasury sales.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Mon, Jan. 11, 10:32 AM | 5 Comments
  • Fri, Jan. 8, 2:50 PM
    • This morning's nonfarm payrolls print was pretty much a blowout, with 292K December jobs vs. 200K expected, and sizable positive revisions to November. The Fed has been right as rain on jobs, but other indicators - including inflation and manufacturing surveys - paint a significantly weaker picture of the economy.
    • A modest overnight bounce in Chinese equities, however, is failing to ignite any sort of rally in the West - with Europe losing nearly another 2% today to complete its worst week in nearly five years, and U.S. stocks giving up near-1% gains.
    • Fed officials, meanwhile, continue to insist the market - which sees just two rate hikes this year - is way too dovish.
    • The 10-year Treasury yield shot up to 2.21% after the strong number this morning, but is currently at 2.13%, off two basis points on the session.
    • ETFs: TBT, TLT, TMV, IEF, TBF, EDV, TMF, PST, TTT, ZROZ, TLH, SBND, VGLT, IEI, TYO, UBT, DLBS, DTYS, UST, TLO, VGIT, TBX, SCHR, GSY, TYD, LBND, ITE, DTYL, DLBL, TYBS, DFVL, VUSTX, TBZ, DFVS, TYNS
    | Fri, Jan. 8, 2:50 PM | 6 Comments
  • Fri, Jan. 8, 8:49 AM
    • U.S. stock index futures have added to gains following the strong December jobs print, with the S&P 500 now higher by 1.25%.
    • Jobs were up 292K in December vs. 200K expected, and November/October gains were revised higher. The unemployment rate held steady at 5%.
    • The 10-year Treasury yield popped up to 2.20% right after the report, but is returned back to 2.18% - up three basis points on the session. TLT -0.4%, TBT +0.8% premarket
    • Gold (NYSEARCA:GLD) has added to losses, now lower by 1.3% to $1,094 per ounce. GLD -1.1% premarket
    • Oil has added to its gains, now up 1.4% to $33.81 per barrel. USO +0.6% premarket
    • The dollar (UUP, UDN) pops higher, now up 0.75% on the session. Particularly weak is the euro (NYSEARCA:FXE), down 1.2% to $1.08.
    • Previously: Strong upward revisions add to December jobs beat; wages and hours worked flat (Jan. 8)
    • Previously: Big jobs beat in December (Jan. 8)
    | Fri, Jan. 8, 8:49 AM | 15 Comments
  • Wed, Jan. 6, 8:25 AM
    • Bond traders are focused on red equity numbers and the continuing crash in energy rather than a strong ADP jobs report - 257K private sector jobs added in December vs. 190K expected. Today's print is the strongest since 275K jobs gained in December 2014.
    • The 10-year Treasury yield moved up one basis point on the news to 2.19%, but is still lower by five basis points on the session, with U.S. stock index futures down 2% and oil off 3.3%.
    • TLT +1.2%, TBT -2.4% premarket
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Wed, Jan. 6, 8:25 AM | 6 Comments
  • Mon, Jan. 4, 10:24 AM
    • The overall PMI slipped to 48.2 in December from 48.6 the month before. Economists had expected a small rise to 49.2.
    • The New Orders and Production subindexes both rose a hair, though both remain in contraction zone at 49.2 and 49.8, respectively.
    • Employment fell to 48.1 from 51.3, Supplier deliveries to 50.3 from 50.6, and Backlogs to 41 from 43.
    • Full report
    • In case anyone missed the news, the Fed has just embarked on rate hike cycle.
    • The major U.S. stock indices remain lower by about 2%, and the 10-year Treasury yield is down by six basis points to 2.21%. TLT +1.3%, TBT -2.6%.
    | Mon, Jan. 4, 10:24 AM | 4 Comments
TBT Description
ProShares UltraShort 20+ Year Treasury seeks daily investment results, before fees and expenses and interest income earned on cash and financial instruments, that correspond to twice (200%) 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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