Inverse Bond ETF (TBT) Experiences More Pain
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ProShares UltraShort 20+ Year Treasury (NYSE: TBT), an inverse treasury bond ETF, is experiencing more pain today as yields on longer and intermediate term treasures head lower. Yields on US 10-year bonds were lower by 2.9 percent today to 1.59.
The move lower is driven by huge global demand for safety as the crisis in Europe intensifies. Disappointing economic data out of the U.S. today also added to demand for debt, as market participants fear a weaker than expected jobs number could rattle markets tomorrow.
The May U.S. payrolls report on Friday is expected to show employers added 150,000 positions in May, but some say the estimates are too high.
The Federal Reserve on Thursday will buy as much as $2 billion in debt maturing between 2036 and 2042 as part of its Operation Twist schedule.
TBT is down 3 percent today and 15.4 percent in the past month.
The move lower is driven by huge global demand for safety as the crisis in Europe intensifies. Disappointing economic data out of the U.S. today also added to demand for debt, as market participants fear a weaker than expected jobs number could rattle markets tomorrow.
The May U.S. payrolls report on Friday is expected to show employers added 150,000 positions in May, but some say the estimates are too high.
The Federal Reserve on Thursday will buy as much as $2 billion in debt maturing between 2036 and 2042 as part of its Operation Twist schedule.
TBT is down 3 percent today and 15.4 percent in the past month.
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