A closely watched exchange traded fund indexed to long-term U.S. Treasury bonds rose 1% on Thursday as the ETF tried to reverse a string of seven consecutive down days.

The iShares Barclays 20+ Year Treasury Bond (NYSEArca: TLT) was trading around $115.50 a share on Thursday after topping out just above $125 earlier this month. [Treasury ETF Sell-Off Picks Up Speed as Yields Leap]

U.S. 30-year bonds ended their longest losing streak in four years as the Treasury Department prepared to sell $13 billion of the securities, Bloomberg reported.  The U.S. auctioned $21 billion of 10-year notes on Wednesday.

“The world is not a better place,” said Scott Graham, head of government bond trading at Bank of Montreal’s BMO Capital Markets unit, in the Bloomberg report. “Europe is kicking tires of a possible solution, but we haven’t seen any credible package yet. The front end is getting a pop from what the Fed said yesterday with regard to the possibility of more quantitative easing.”

Treasury yields have jumped recently after investors pumped more than $9 billion into taxable-bond ETFs in September and August combined. [Skittish Investors Flock to Bond ETFs]

Yields on the 30-year bond have climbed back above 3%.

iShares Barclays 20+ Year Treasury Bond

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