Long-Treasury ETF Plunges Record 48% as Market Meltdown Worsens
@ETF Tracker:
The $39 billion fund is trading at its lowest point since 2011‘It’s all about interest-rate expectations,’ says Todd SohnThe largest long-dated bond ETF is suffering its biggest drawdown on record as the Federal Reserve’s higher-for-longer interest rates start to sting.The $39 billion $iShares 20+ Year Treasury Bond ETF(TLT)$ has lost 48% from its 2020 all-time high and is trading at its lowest point since 2011, according to data compiled by Bloomberg. At the same time, IHS Markit Ltd. data show that bets against the fund have risen, with short interest as a percentage of its shares outstanding at its highest in about a month.“It’s all about interest-rate expectations — inflation ignited a major move higher, and that along with a stronger-than-expe