TLT, the long-term Treasury ETF, is down about 7% the past three months. Bond yields and prices move in opposite directions. [How Rising Interest Rates Would Impact Top-Selling Bond ETFs]
Yields on the 10-year note are trading near a 10-month high.
“Treasury yields will go higher,” said Mohit Kumar at Deutsche Bank in a Bloomberg report. “Economic data is coming out better. The Fed will signal a pause in asset purchases at some point before the year-end.”
iShares Barclays 20+ Year Treasury Bond Fund
Full disclosure: Tom Lydon’s clients own TLT.