ProShares UltraShort 20+ Year Treasury ETF (TBT) - NYSEARCA
  • 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
  • Tue, Jun. 28, 12:51 PM
    • It's not exactly a rip-roaring bounce, but it's a bounce nonetheless, with the Stoxx 50 (NYSEARCA:FEZ) closing up 2.1%, led by 2.6% gains in the U.K. (NYSEARCA:EWU) and France (NYSEARCA:EWQ). Germany (NYSEARCA:EWGrose 1.9%.
    • Alongside is a pretty lame rebound in the pound (NYSEARCA:FXB), up 0.8% vs. the dollar to $1.3330.
    • Meanwhile interest rates aren't really buying it. The 10-year U.S. Treasury yield is up just 3 basis points to 1.46%, and the German 10-year Bund yield higher  by just 1 basis point. TLT +0.2%, TBT -0.4%
    • The Nasdaq's 1.6% gain is leading U.S. stocks. The S&P 500 is up 1.1% and the Dow 0.9%.
    | Tue, Jun. 28, 12:51 PM | 8 Comments
  • Sun, Jun. 26, 8:53 PM
    • Dow (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) futures are lower by 0.65% and Nasdaq 100 (NASDAQ:QQQby 0.8% in early Sunday evening action.
    • Also open for business are FTSE 100 (NYSEARCA:EWU) and Dax (NYSEARCA:EWG) futures, and they're off 2% and 1.5%, respectively.
    • In early Monday trade, Japan and Australia are in the green after their plunge on Friday.
    • The British pound (NYSEARCA:FXB) is down another 2.15% vs. the dollar and the euro (NYSEARCA:FXE1%.
    • The 10-year Treasury yield (TLT, TBT) is off another five basis points to 1.50% - a new four-year low, and within shouting distance of its all-time low of 1.395% hit on July 23, 2012.
    | Sun, Jun. 26, 8:53 PM | 111 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
  • Thu, Jun. 23, 9:47 PM
    • Panicky equity markets have money pouring into the safety of U.S. Treasurys, with the 10-year yield off eight basis points to 1.66%. TLT +0.55%, TBT -1.1% after hours.
    • Gold (NYSEARCA:GLD) is seeing a bit of a bid, up 0.65% to $1,271 per ounce. WTI crude oil (NYSEARCA:USO) is lower by 1.6% to $49.30 per barrel.
    • Previously: Markets crumble on Brexit shocker (June 23)
    | Thu, Jun. 23, 9:47 PM | 5 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
  • Fri, Jun. 3, 8:42 AM
    • Alongside just 38K jobs added to payrolls in May (vs. 164K expected), April's 160K gain was revised lower by 37K jobs, and 22K jobs were cut from March's originally-reported 208K gain. That adds up to 59K in downward revisions for those two months.
    • The unemployment rate is looking great though - falling to 4.7% from 5% - thanks to the labor force participation rate dropping to 62.6% from 62.8%. The participation rate is now down by 40 basis points in the last three months.
    • The broader U-6 unemployment fell was unchanged at 9.7%.
    • The average workweek was unchanged at 34.4 hours. Average hourly earnings increased by a nickel to $25.59. On a Y/Y basis, earnings are up 2.5%.
    • Looking at the job totals in more detail, employment in information fell 34K in May, with the Verizon strike pulling 35K workers off company payrolls.
    • U.S. stock index futures (SPY, QQQ, DIA) have turned modestly lower following the headline miss, but the real action is in the bond market, where the 10-year Treasury yield has tumbled seven basis points to 1.73%. TLT +0.75%, TBT -1.5%
    | Fri, Jun. 3, 8:42 AM | 24 Comments
  • Thu, Jun. 2, 8:32 AM
    • Private nonfarm payrolls added 173K jobs in May, according to ADP, roughly inline with estimates. Service jobs were up 175K, and goods-producing jobs fell slightly.
    • April's 156K gain was revised up to 166K.
    • The average job gain over the past three months is 180K vs. 229K the prior three months, and 180K the three months before that.
    • The 10-year Treasury yield remains flat on the session at 1.833%. TLT +0.1%, TBT -0.2%
    | Thu, Jun. 2, 8:32 AM
  • Fri, May 27, 1:52 PM
    • Taking questions on stage after receiving an honor at Radcliffe, Janet Yellen doesn't sound as hawkish as recent FOMC minutes and Fed speakers who pointed to a pretty good chance of a June rate hike. She doesn't shoot down the idea either.
    • Best guess now would be the Fed gets a hike under its belt in July, and then maybe sits out the election season.
    • The 10-year Treasury yield has added about 1.5 basis points, now higher by two bps on the day to 1.85%. TLT -0.1%, TBT +0.2%.
    • Short-term rate futures are pricing in about  75% chance of a rate hike by the end of July.
    • Stocks remain marginally higher in sleepy trade.
    | Fri, May 27, 1:52 PM | 8 Comments
  • Tue, May 24, 10:15 AM
    • Those angling for a hike in interest rates at the June FOMC meeting got a boost to their argument a few minutes ago, as new home sales in April soared way past expectations and to their highest level in eight years.
    • The 10-year Treasury yield is higher by three basis points to 1.864%. TLT -0.6%, TBT +1.2%
    • Short-term rate markets are pricing in about a 40% chance of a June move by the Fed, and a near-100% chance by summer's end. They've also begun pricing in odds of two rate hikes by the end of 2016.
    • ETFs: TBT, TLT, TMV, SHY, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, SBND, BIL, UBT, DLBS, TLO, VGSH, SHV, SCHO, LBND, VUSTX, DLBL, TYBS, SST, DTUS, TUZ, DTUL, RISE
    | Tue, May 24, 10:15 AM | 3 Comments
  • Thu, May 19, 10:12 AM
    • The Fed nearly went all-in yesterday, with FOMC minutes stopping just short of promising a June rate hike. The minutes are not an actual transcription of the policy meeting, but instead a negotiated and agreed upon summary of what took place. The line about "most participants" thinking it likely a June rate hike would be appropriate was not in there by accident.
    • If history is any guide, markets have a way bigger stack than the Fed, and a swoon in equity prices a la January could have the central bank backtracking. It should make for an interesting couple of weeks.
    • The Dow (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq (NASDAQ:QQQ) are all lower by 0.9% in early action (though Dow component Wal-Mart is up 8.6%), and the 10-year Treasury yield is pulling back from its big jump yesterday - currently lower by 2 basis points to 1.83%. TLT +0.55%, TBT -1.1%
    • Fed Funds futures are pricing in a one-in-three chance of a June hike.
    | Thu, May 19, 10:12 AM | 52 Comments
  • Fri, May 13, 2:31 PM
    | Fri, May 13, 2:31 PM | 6 Comments
  • Fri, May 6, 8:47 AM
    • U.S. stock index futures have about doubled losses since April's jobs report, with the S&P 500 (NYSEARCA:SPY) and Nasdaq 100 (NASDAQ:QQQdown 0.55%, and DJIA (NYSEARCA:DIAdown 0.5%.
    • 160K jobs were added in April vs. expectations for 202K. The unemployment rate held steady at 5% as the labor force participation rate fell to 62.8% from 63%.
    • The 10-year Treasury yield is lower by 2.5 basis points to 1.72%. TLT +0.3%, TBT -0.6%.
    • The dollar (UUP, UDN) is all over the place - knee-jerking sharply lower as the numbers hit at 8:30, but now back to where it was prior to the report, down marginally on the session.
    • Previously: Jobs disappoint; UE rate steady thanks to dip in labor force participation (May 6)
    • Previously: April jobs numbers fall short (May 6)
    | Fri, May 6, 8:47 AM | 19 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
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub