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We have been discussing for weeks that the ProShares UltraShort 20+ Year T-Bond ETF (NYSE: TBT) is warning us that longer-term rates are heading higher, but we just don’t know exactly which of the many reasons will come to the fore. Today, bonds are getting hit, perhaps because the healthcare bill in all its splendor, expense and unintended consequences looks like a done deal. Two thousand-plus pages of mystery directives creates that much more uncertainty from a budgetary perspective (Mr. Market is not buying the “revenue neutrality” of the bill). As we speak, 10-year yield is pushing above 3.60%.
Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!
