ProShares UltraShort 20+ Year Treasury ETF
 (TBT)

- NYSEARCA
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  • 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
  • Dec. 17, 2015, 12:13 PM
    • Up at 2.34% in the immediate aftermath of the Fed's rate hike yesterday, the 10-year Treasury yield has slid all the way down to 2.24%. The two-year yield is off one basis point to 0.99%.
    • Today's 2-10 spread of 135 basis points compares to about 151 basis points in early November.
    • TLT +1%, TBT -2%
    • Yield curve ETFs: STPP, FLAT
    | Dec. 17, 2015, 12:13 PM | 11 Comments
  • Dec. 16, 2015, 2:12 PM
    • Things are volatile, but stocks are somewhat higher and bonds somewhat lower (yields higher) since the Fed's expected boost to interest rates, and little change in the bank's economic projections.
    • The S&P 500 (SPY +0.6%) has added just under half a percent since 2 ET, and the 10-year Treasury yield has added one basis point to 2.29%. TLT, TBT flat on the session.
    • Previously: Fed projections: 1.4% Fed Funds by the end of 2016 (Dec. 16)
    • Previously: Fed officially puts an end to ZIRP (Dec. 16)
    | Dec. 16, 2015, 2:12 PM
  • Dec. 15, 2015, 12:40 PM
    • The S&P 500 (SPY +1.5%) is at its session high alongside oil (NYSEARCA:USO), which is up 3.3% on the session and nearly 10% since falling to almost $34 per barrel roughly 24 hours ago.
    • Energy (XLE +2.7%) is the best-performing sector in the S&P 500, but financials (XLF +2.5%) aren't far behind, with energy-exposed names like Comerica (CMA +5.2%), ZIons Bancorp (ZION +3.8%), and Prosperity Bancshares (PB +2.7%) among the regional bank movers.
    • The surge has also given a big lift to junk bond prices even as the 10-year Treasury yield jumps five basis points to 2.27%. TLT -0.7%, TBT +1.4%.
    | Dec. 15, 2015, 12:40 PM | 29 Comments
  • Dec. 14, 2015, 12:32 PM
    • As low as $34.50 earlier in the session, crude oil (USO +1.5%) has rebounded back to $36.31 per barrel, bringing the energy sector (XLE +0.4%) and broader stock market (SPY +0.1%) along with it.
    • The major junk bond ETFs have about halved earlier 2% losses.
    • Money is pouring out of Treasurys, with the 10-year yield climbing all the way to 2.22% from 2.12%. TLT -1.45%, TBT +2.9%
    | Dec. 14, 2015, 12:32 PM | 24 Comments
  • Dec. 11, 2015, 10:42 AM
    • The 10-year Treasury yield is lower by six basis points to 2.17%, but high-yield paper is once again headed the opposite direction, with HYG down 1.2% and JNK down 1.1%.
    • The panicky action in junk bonds comes as oil sinks to new bear market lows, now off 2% to $36.06 after falling as low as $35.70 earlier. The major averages are all down more than 1%, led by energy's 2.4% decline.
    • Long-dated Treasury ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Dec. 11, 2015, 10:42 AM | 17 Comments
  • Dec. 9, 2015, 12:44 PM
    • Another volatile session has seen a modest rally quickly reverse and turn lower, led by the Nasdaq (QQQ -1.8%). The S&P 500 (SPY -1.1%) and Dow (DIA -0.7%) are also in the red now.
    • The move in stocks is matching that of oil (USO -1.9%), which earlier on bullish inventory news rallied to $39 per barrel, but is now off 1% on the session to $37.12.
    • Treasury yields are following along, with the 10-year Treasury now at 2.23% after hitting 2.27% earlier. TLT -0.25%, TBT +0.5%
    | Dec. 9, 2015, 12:44 PM | 11 Comments
  • Dec. 7, 2015, 1:11 PM
    • Touching as high as 2.30% earlier in the session, the 10-year Treasury yield has tumbled all the way to 2.21%. The move comes with the major averages lower by more than 1%, led by the energy sector's near-5% decline as oil plunges below $38 per barrel.
    • The flow into the safety of government paper is in contrast with the continued exit from high-yield.
    • Next week's Fed rate hike in the face of plunging commodity prices (it's not just oil headed south) and signs of strain in credit markets should make for interesting reactions.
    • TLT +1.3%, TBT -2.6%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Dec. 7, 2015, 1:11 PM | 6 Comments
  • Dec. 4, 2015, 8:40 AM
    • In addition to the November jobs gain of 211K (vs. 200K expected), October's big 271K number was revised higher to 298K, and September's 137K to 145K.
    • The average workweek edged lower by 0.1 hour to 34.5 hours. Average hourly earnings rose $0.04 to $25.25; on a Y/Y basis, they're higher by 2.3%.
    • The labor force participation rate gained 10 basis points to 62.5%. A year ago, it was 62.9%.
    • The broader U-6 unemployment rate rose to 9.9% from 9.8%. One year ago, it was 11.4%. Headline unemployment held steady at 5%. One year ago, it was 5.8%.
    • The 10-year Treasury yield is moving higher again, up three basis points to 2.35%, and the 2-year Treasury yield is up a big 3.3 basis points to just under 1%.
    • TLT -0.75% premarket
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Dec. 4, 2015, 8:40 AM | 10 Comments
  • Dec. 3, 2015, 10:13 AM
    • 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
    | Dec. 3, 2015, 10:13 AM | 5 Comments
  • Dec. 2, 2015, 1:13 PM
    • The ADP earlier estimated U.S. private-sector payroll growth of 217K in November up from 196K in October and against expectations for 183K.
    • Fed speakers Janet Yellen and Dennis Lockhart did everything except explicitly promise a rate hike this month.
    • The two-year Treasury yield is up 3.9 basis points to 0.946% - it's highest level in 5.5 years, and the 10-year yield is higher by six basis points to 2.20%. Today's jobs data contrasts with yesterday's manufacturing data which showed that sector of the economy in contraction (and which sent the ten-year yield sliding down to 2.14%).
    • TLT -0.4%, TBT +0.8%
    • 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
    | Dec. 2, 2015, 1:13 PM | 4 Comments
  • Dec. 1, 2015, 10:09 AM
    • November's 48.6 read puts the ISM index into contraction for the first time in three years. It's also the weakest print since July 2009.
    • Economists expected the gauge to rise to 50.5 from 50.1 in October, and strategists are scrambling to see if there's precedent for the Fed launching a rate hike cycle with the ISM below 50.
    • Turning to the subindexes ...
    • New Orders fell to 48.9 from 52.9, Production 49.2 from 52.9, Supplier Deliveries 50.6 from 50.4, Prices 35.5 from 39, Backlogs 43 from 42.5, Employment 51.3 from 47.6.
    • At 2.24% ahead of the number, the 10-year Treasury yield is now at 2.18%, off three basis points on the session. TLT +0.6%, TBT -1.2%
    • Full report
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Dec. 1, 2015, 10:09 AM | 26 Comments
  • Nov. 24, 2015, 8:41 AM
    • Reacting not to in-line Q3 GDP numbers (the government's 2nd estimate has growth at 2.1%), but instead to Turkey's downing of a Russian warplane, Europe down nearly 2%, and U.S. stock index futures at session lows, off 0.8%, the 10-year Treasury yield is lower by three basis points to 2.21%.
    • The yield on the benchmark has now returned to nearly the level it was at prior to the October employment report - which more or less cemented the fact of a December rate hike.
    • TLT +0.3%, TBT -0.6%
    | Nov. 24, 2015, 8:41 AM | 1 Comment
  • Nov. 20, 2015, 10:39 AM
    • The U.S. economic expansion has many more years to go, says St. Louis Fed President Jim Bullard - strong words considering this particular expansion has already gone about two years past the median length.
    • Bulls on long-dated Treasurys might take heart from Bullard's comments as the central banker typically gets his forecasts wrong (to be fair, the fortune-teller business is a tough one). Indeed, the 10-year Treasury yield slipped to 2.23% from 2.26% since the remarks.
    • Bullard sees unemployment falling into the low-4% range next year, and says monthly job gains need to be no more than 130K to keep up with population growth.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Nov. 20, 2015, 10:39 AM | 7 Comments
  • Nov. 18, 2015, 8:47 AM
    • Speaking at the TCH Conference (The Clearing House), Atlanta Fed President Dennis Lockhart says the job market has already met the criteria necessary for tighter monetary policy.
    • He says he was ready to hike rates in September, but decided to defer to the majority of the FOMC.
    • The boost is coming next month, and now it's time to focus on what the pace of rate hikes might look like. According to Lockhart, there's nothing predetermined, but he expects this tightening cycle to be "relatively gradual or shallow."
    • The 10-year Treasury yield is up three basis points to 2.29%.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Nov. 18, 2015, 8:47 AM | 20 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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