The ProShares UltraShort 20+ Year Treasury ETF (NYSE:TBT) is trading lower this morning by 0.27 cents to $38.71. This ETF will generally trade with the yields and not the price of the bond. Therefore, when a trader believes yields will rise the TBT could be a way to play that move. Traders can watch for the TBT to have intra-day support around the $38.50 area.
IGVSI Rally Continues - Profit Taking Opportunities Take the Spotlight!
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Treasury Bonds Higher; Stocks Mixed as Economy Sputters Along
December Treasury Bonds Post Daily Reversal Bottom
After early session pressure, the December Treasury Bonds posted a daily closing price reversal bottom which may be an indication that it has run out of sellers.
Thursday’s action suggests that traders may have begun the process of squaring up short positions ahead of next week’s Federal Open Market Committee meeting.
December Treasury Bonds Reach Critical Retracement Level
Greenback Continues to Get Pounded; Fed, Treasury Remain Quiet about Weakness
Jobs Data Friendly to Treasury Bonds, Bearish for Dollar
Non-Farm Payrolls were down 95,000. The jobless rate was unchanged at 9.6%. The government lost 159,000 jobs. This number was split between Fed census workers and state workers. The private sector gained 64,000 jobs which was right in line with expectations. The bottom line is the jobs market is not keeping pace with growth in the economy.