iShares 10-20 Year Treasury Bond ETF (TLH) - NYSEARCA
  • Tue, Mar. 22, 11:51 AM
    • According to a bank survey, the share of "long" investors adding to long-dated U.S. government paper rose to 21% this week from 16% previously. This follows the FOMC last week cutting its expectations for rate hikes this year by half to just two.
    • The share of "short" investors holding fewer long-dated Treasurys fell to 19% from 25%.
    • Longs outnumbered shorts by 200 basis points vs. a week earlier when shorts outnumbered longs by 900 bps.
    • The 10-year Treasury yield is lower by three basis points today to 1.89%. Ahead of the Fed last week, it was pushing 2%.
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Tue, Mar. 22, 11:51 AM
  • Tue, Mar. 22, 4:34 AM
    | Tue, Mar. 22, 4:34 AM | 4 Comments
  • Wed, Mar. 16, 7:17 AM
    • Goldman is out with a note saying Janet Yellen will use today's press conference to narrow the gap between Fed and market expectations.
    • “Ahead of this week’s meeting, the market is again putting more weight on the Fed dots’ downward revision than on the Fed’s communication around the timing of the next hike and the pace of the tightening cycle. We disagree with this market view,” Goldman says.
    • “Preparing the market for another ‘hike it and like it’ might be a better option at the current juncture. Not only have data moved in the right direction, but financial conditions, a metric that has occupied an important place for many Fed speakers, have eased back to their level in December.”
    • Goldman expects the Fed will lower its median projected pathway for rate hikes this year down to three from four, but still well above the one hike currently expected by markets.
    • Goldman thinks the Fed will lift the fed funds rate target by 25 BP in June, but add that, “a hike in April is not inconceivable.”
    • ETFs: TBT, TLT, TIP, TMV, IEF, SHY, TBF, EDV, TMF, PST, TTT, ZROZ, VTIP, MBB, TLH, SBND, BKT, VGLT, IEI, SCHP, BIL, TYO, IPE, UBT, DLBS, DTYS, UST, TLO, LTPZ, PLW, VGSH, STPZ, RINF, VMBS, SHV, GNMA, TIPZ, STIP, VGIT, STPP
    | Wed, Mar. 16, 7:17 AM | 7 Comments
  • Tue, Mar. 15, 9:34 AM
    • Core retail sales fell 0.1% in February, beating expectations for a 0.2% decline, but January's core retail sales was revised from a gain of 0.1% to a drop of 0.4%. On balance, we'll call the report a miss.
    • Lower already, the 10-year Treasury yield dipped another couple of basis points to 1.91% following the print. It's since bounced back to 1.94%, off three basis points on the session.
    • In other economic news, the Empire State Survey printed positive for the first time in eight months, and the FOMC begins its two-day meeting today, at which no change in monetary policy is expected.
    • TLT +0.55%, TBT -1.1%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Tue, Mar. 15, 9:34 AM
  • Mon, Mar. 14, 5:17 AM
    • Morgan Stanley, one of the Wall Street banks that deals directly with the Federal Reserve, has cut its bond yield forecasts for 2016, saying the U.S. central bank will wait until December before raising interest rates.
    • "The global backdrop for rates markets looks so supportive that 2016 may become known as the 'Year of the Bull,'" according to the company report.
    • Treasury 10-year yields will fall to 1.45% by the end of September, analysts wrote, approaching the record low of 1.38% set in 2012.
    • ETFs: TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Mon, Mar. 14, 5:17 AM | 2 Comments
  • Tue, Mar. 8, 2:24 PM
    • Equity markets are only down modestly, but Treasury yields are tumbling following brutally weak trade data out of China overnight. The price are crude oil is in retreat as well, off 3.2% to $36.70 per barrel.
    • The 10-year Treasury yield is off a full nine basis points to 1.82% and the 2-year down 4.4 bps to 0.87%.
    • Those yields positively tower over much of the rest of the industrialized globe, particularly Japan, where the 10-year JGB yield slid four basis points to negative 0.099% - a new all-time low.
    • TLT +1.3%, TBT -2.6%
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Tue, Mar. 8, 2:24 PM
  • Tue, Mar. 8, 6:21 AM
    • Longer dated Japanese government bond yields declined to new depths overnight, with the 7-, 10-, and 30-year benchmark yields all setting new record lows.
    • Although the JGB market figures are not unusual since the BOJ cut interest rates below zero, the scale of the rally for the 30-year bonds was pronounced, suggesting investors are scrambling for yield against a backdrop of poor economic data and deflationary pressures.
    • U.S. treasuries gained with the Japanese bonds, as stock-market declines drove demand for the relative safety of sovereign debt.
    • 10-year treasury yield -6 bps to 1.84%
    • ETFs: JGBS, JGBD, JGBL, JGBT, JGBB, TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
    | Tue, Mar. 8, 6:21 AM
  • Wed, Mar. 2, 8:31 AM
    • Private-sector payrolls gained 214K in February, according to the ADP. That's against expectations for a 185K gain and January's addition of 193K (revised down from 205K).
    • December's originally-reported 257K job gain was revised higher to 287K, and November's 217K gain revised down to 193K.
    • The average job gain over the past three months of 231K compares to 180K in the previous three months. Should Treasury bulls reassess their positions?
    • The 10-year Treasury yield jumped in the immediate aftermath of the report, but is now just one basis point higher at 1.84%. TLT +0.1% premarket
    • Full report
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Wed, Mar. 2, 8:31 AM | 6 Comments
  • Wed, Feb. 24, 10:17 AM
    • Manufacturing isn't of great import in today's U.S. economy goes the bullish argument alongside the fall of manufacturing PMIs into contraction zone.
    • What then to make of the services PMI diving to 49.8 in February from 53.7 the previous month (and vs. expectations for no change)?
    • Alongside that was a far steeper than expected decline in new home sales in January.
    • The S&P 500 is lower by 1.3% and the Nasdaq by 1.5%.
    • The 10-year Treasury yield has tumbled all the way to 1.66%. 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, Feb. 24, 10:17 AM | 8 Comments
  • Mon, Feb. 22, 12:52 PM
    • According to the technicians on his team, the 10-year U.S. Treasury yield might not bottom until it hits 28 basis points, says Guggenheim Global CIO Scott Minerd, who reminds it was technical analysis that led the team a year ago to predict $25 oil.
    • Helping the move in Treasurys will be actions by the ECB and BOJ, as Minerd sees both central banks taking benchmark rates to as low as negative 100 basis points.
    • In that scenario, he says, the German 10-year Bund rate could fall to negative 50 bps, so considering the current Bund/Treasury spread of 150 bps, it's not difficult to imagine U.S. 10-years falling below 1%.
    • Previously: Guggenheim launches its own total return bond ETF (Feb. 11)
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Mon, Feb. 22, 12:52 PM | 14 Comments
  • Fri, Feb. 19, 8:51 AM
    • Core CPI was up a perky 0.3% in January vs. 0.2% in December and 0.2% expected. On a year-over-year basis, core CPI gained 2.2%, while overall CPI was higher by 1.4%.
    • In other fixed-income related news, hawkish Cleveland Fed boss Loretta Mester doesn't disappoint her fans, saying the economy remains strong and she continues to expect a gradual series of rate increases.
    • Lower earlier, the 10-year Treasury yield is now up four basis points to 1.78%. TLT -0.15%, TBT +0.3% premarket
    • ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, LBND, DLBL, TYBS, VUSTX
    | Fri, Feb. 19, 8:51 AM | 8 Comments
  • Thu, Feb. 11, 7:45 AM
    • The global stock market plunge is intensifying this morning, with Europe down nearly 3% and U.S. index futures almost 2%. Hong Kong fell 3.85% after returning from holiday. Shanghai and Tokyo were closed.
    • The 10-year Treasury yield is lower by ten basis points to 1.57%. Maybe even more interesting, the January 2017 contract for Fed Funds futures has risen to exactly the same price as the Feb 2016 contract - meaning traders are putting 100% probability on no Fed rate hikes this year. It'll be even more fun when the Jan 2017 contact moves ahead of Feb 2016 - meaning the pricing in of a chance of a rate cut even as the Fed insists tighter policy is still necessary.
    • Up later is day two of Janet Yellen's Congressional testimony. Will she change for positive tone?
    • TLT +1.65%, TBT -3.3% premarket
    • 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, VUSTX, DFVL, TBZ, DFVS, TYNS
    | Thu, Feb. 11, 7:45 AM | 5 Comments
  • 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
  • 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
  • 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
TLH Description
The iShares Barclays 10-20 Year Treasury Bond Fund seeks results that correspond generally to the price and yield performance, before fees and expense, of the long-term sector of the United States Treasury market as defined by the Barclays Capital U.S. 10-20 Year Treasury Bond Index.
See more details on sponsor's website
Country: United States
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