ProShares UltraShort 20+ Year Treasury ETF (TBT) - NYSEARCA
  • 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
  • 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
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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