Direxion Daily 20-Yr Treasury Bull 3x Shrs (ARCA: TMF)

Ultime notizie per Direxion Daily 20-Yr Treasury Bull 3x Shrs (ARCA:TMF)

Direxion Daily 20-Yr Treasury Bull 3x Shrs

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Direxion

The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is a market value weighted index that includes publicly issued U.S. Treasury securities that have a remaining maturity of greater than 20 years. The fund is non-diversified.

Ishares 20+ Year Treasury Bond ETF

Dreyfus Govt Cash Man Ins

Gs Financial Square Treasury Instruments Fund

Direxion Daily 20+ Year Treasury Bull 3X Shares

Motley Fool 100 Index ETF ETF

The RBB Fund, Inc. Motley Fool Capital Efficiency 100 Index ETF

Motley Fool Global Opportunities ETF

Motley Fool Mid-Cap Growth ETF

Motley Fool Small-Cap Growth ETF

The RBB Fund, Inc. Motley Fool Next Index ETF

Investors poured billions into long-dated U.S. Treasury ETFs in the days leading up to Moody's credit rating downgrade—raising fresh doubts over whether that confidence can endure <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45500872/30-year-treasury-yields-hit-5-what-that-means-for-stocks">as debt risks deepen.</a>
The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>)—the world&#8217;s biggest fixed-income ETF—attracted $2.07 billion in inflows between May 12 and May 16, according to ETFdb.com flow data. This is the largest weekly haul since November 2024 and the second biggest since June 2024.
Other long-duration Treasury ETFs also recorded notable inflows last week:
The Direxion Daily 20-Yr Treasury Bull 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMF#NYSE">TMF</a>)—which offers triple-leveraged exposure to 20-year Treasury bonds—attracted $470 million, its largest weekly inflow since November 2024, signaling a surge in leveraged bullish bets on long-term rates.
Meanwhile, the PIMCO 25+ Year Zero Coupon U.S. Treasury ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZROZ#NYSE">ZROZ</a>) pulled in $32.8 million, marking its strongest week of inflows since January 2025.
The timing is notable: the surge in demand preceded Friday's Moody's downgrade, which cut the U.S. sovereign rating to Aa1 from Aaa, citing chronic deficits, rising debt servicing costs, and a bleak fiscal outlook heading toward deficits near 9% of GDP by 2035, should the Tax Cuts and Jobs Act be extended.
Still, year-to-date long-dated Treasury ETFs have seen more outflows than inflows. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) witnessed $1.2 billion in outflows, positioning 2025 to potentially become the first year of net withdrawals since 2020. 
<h3 class="wp-block-heading">Tariff Truce Sparked Optimism, Reduced Recession Odds </h3>
Part of the inflows into long-dated Treasuries may have been fueled by a major U.S.-China trade breakthrough, with both sides agreeing to slash tariffs by 115 percentage points—a move that sparked a rally in risk assets and lowered perceived recession risks.
Last week's economic tone was notably risk-on – bolstered by two cooler-than-expected inflation reports – and investors, anticipating stability in interest rates and soft-landing potential, re-entered duration trades in Treasury markets. Long bonds typically perform well when growth fears ease and the market sees room for rate cuts.
<h3 class="wp-block-heading">Moody's Downgrade Adds Tension—But No Panic</h3>
Despite the downgrade, the market response was measured on Monday. The 30-year Treasury yield briefly spiked above 5% on Monday before falling back to 4.92% as demand resurfaced.
The TLT ETF inched 0.3% lower, signaling that while sentiment slightly weakened, there was no panic selling.
"Friday&#8217;s U.S. sovereign downgrade by Moody&#8217;s is unlikely to result in forced selling but may worsen UST sentiment," said Bank of America analyst Mark Cabana in a note.
Yet, several analysts across Wall Street have largely downplayed the immediate impact of the downgrade. 
Further, regulatory frameworks—such as the Basel III capital standards—continue to treat U.S. Treasuries rated AAA to AA- as risk-free for capital requirement purposes. 
This means banks and institutional investors face no changes in how they treat U.S. government bonds, reinforcing the structural role Treasuries play as collateral and liquidity instruments globally.
The appetite for duration remains intact—for now—but whether investors continue pouring in as fiscal risks take center stage remains to be seen.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45497403/is-the-dollars-global-reserve-role-at-risk-after-moodys-downgrade">Is The Dollar&#8217;s Global Reserve Role At Risk After Moody&#8217;s Downgrade? </a></li>
</ul>
Photo: Shutterstock

Analyst Color

Bonds

Specialty ETFs

Treasuries

Analyst Ratings

ETFs

iShares Trust Barclays 20+ Year Treasury Bond Fund

PIMCO 25+ Year Zeroupon US Treasury Index Fund

ZROZ

Investors Piled Into Long-Term Treasury ETFs Ahead Of Moody's Downgrade: Will Confidence Hold?

We performed a screening of Leveraged ETFs to determine what funds had the largest change in net assets on the week, according to data from <a href="http://etfdb.com">etfdb.com</a>.
<h2 class="wp-block-heading">Winners</h2>
ProShares UltraPro Short QQQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQQQ#NYSE">SQQQ</a>)
SPTS added $185.27 million in net assets over the trailing week.
The ProShares UltraPro Short QQQ offers 3x daily short leverage to the NASDAQ-100 Index.
SPHY has $3.76 billion in AUM and an expense ratio of 0.95%.&nbsp;
SPHY added $3.25 billion in net assets YTD.
Direxion Daily 20+ Year Treasury Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMF#NYSE">TMF</a>)
TMF added $50.70 million in net assets over the trailing week.
The Direxion Daily 20+ Year Treasury Bull 3X Shares offers 3x long leveraged exposure to the broad-based NYSE 20 Year Plus Treasury Bond Index.
TMF has $2.23 billion in AUM and an expense ratio of 1.06%.
TMF added $2.88 billion in net assets, YTD.
<h2 class="wp-block-heading">Losers</h2>
Direxion Daily Semiconductor Bull 3x Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXL#NYSE">SOXL</a>)
SOXL is down $254.56 million in AUM over the trailing week.
The Direxion Daily Semiconductor Bull 3x Shares offers 3x daily long leverage to the PHLX Semiconductor Index.
The fund has $6.64 billion in AUM and an expense ratio of .94%. The fund is spread across 31 companies with the top 10 holdings accounting for 60.98% of the fund's value.
ITB's largest holdings are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) making up 16.13% and 6.82% of the fund, respectively.
SOXL is down $1.07 billion in AUM YTD.
ProShares UltraPro QQQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TQQQ#NASDAQ">TQQQ</a>)
TQQQ is down $140.56 million in AUM on the week.
The ProShares UltraPro QQQ offers 3x daily long leverage to the NASDAQ-100 Index.
The fund has $17.56 billion in AUM and an expense ratio of 0.88%.&nbsp; The fund is spread across 128 companies with the top 10 holdings accounting for 48.70% of the fund's value.
ITB's largest holdings are Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) making up 4.59% and 4.10% of the fund, respectively.
YTD, TQQQQ is down $4.55 billion in AUM.

AAPL

AVGO

MSFT

SOXL

SQQQ

TQQQ

Proshares' Short QQQ Play Tops The List This Week - ETF Winners And Losers: Leveraged Flows

In the pre-pandemic era, bond investments were largely the domain of institutional funds, shielded from the hustle and bustle of <a href="https://www.benzinga.com/topic/interest-rates">the retail-trading world.</a>
And who could blame them. Fixed-income portfolio managers and analysts faced the Herculean task of seeking returns in a global environment characterized by rock-bottom or even negative interest rates. 
Often, they considered themselves fortunate to eke out meager basis points in gains. During this period, pension funds and money-market vehicles were in a frantic search for minimal returns. 
The boldest investors ventured into uncharted waters, hunting for yields in high-risk emerging markets, all too often subjecting themselves to wild bouts of volatility.
By the end of 2020, the yield to maturity on an Austrian government&#8217;s 100-year bond had dwindled to a mere 0.4%. Meaning, an investment in this security would have only gotten a nominal 0.4% annual return over the next century. 
As central banks worldwide unveiled unprecedented stimulus measures to rescue the global economy from the pandemic&#8217;s clutches, the market value of negative-yield bonds soared to an astonishing $18.4 trillion by late 2020. 
Fast-forward to the end of July 2023, this figure had plummeted to a meager $1.3 trillion, as per <a href="https://www.bloomberg.com/news/articles/2023-08-01/global-pile-of-negative-yield-debt-driven-toward-zero-by-boj?embedded-checkout=true&amp;sref=TBDibEcD">Bloomberg </a>data, marking a spectacular sell-off that reverberated through many fixed-income funds and triggered a widespread devaluation of bonds across the globe. That figure could now be even lower given the latest Treasury rout. 
Remarkably, the same Austrian secular bond now offers a yield of 3%, but its value has plummeted by more than 85% since its 2020 peak. 
Closer to home, the market value of a generic 30-year Treasury bond has wiped out more than half of its value since reaching its zenith in March 2020. 
Also Read: <a href="https://www.benzinga.com/government/23/10/35110568/us-economy-at-crossroads-mohamed-el-erian-flags-stagflation-risk-cautions-on-recession-threat-for-20">US Economy At Crossroads: Mohamed El-Erian Flags Stagflation Risk, Cautions On Recession Threat For 2024</a>
Chart: Long-Maturity Bonds Experience Carnage After Pandemic
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="737" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/05134140/AT100_2023-10-05_18-41-24_0f333-1024x737.png" alt="" class="wp-image-118789" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/05134140/AT100_2023-10-05_18-41-24_0f333-1024x737.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/05134140/AT100_2023-10-05_18-41-24_0f333-300x216.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/05134140/AT100_2023-10-05_18-41-24_0f333-768x553.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/05134140/AT100_2023-10-05_18-41-24_0f333.png 1501w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Retail Traders Jump On The Bond Market Bandwagon</h2>
These seismic tremors in the bond market have served as a stark reminder of how even seemingly impregnable assets can succumb to volatility in a world grappling with rising interest rates and inflation.
But apart from that, they have also given birth to a new phenomenon: the entry of retail traders into the fixed-income arena.
In recent times, discussions surrounding economic variables and bond-related assets have surged within popular retail trader communities on social media platforms. 
Tom Bruni, a senior writer at Stocktwits, shared insights during an exclusive interview with Benzinga, remarking that much of the discourse revolves around the broader macroeconomic picture.
Retail traders have come to realize that summer has brought not directionality but volatility beneath the surface, piquing their curiosity about global macroeconomic developments.
The realization that the risk-free rate now hovers around 5% is resonating not only on Wall Street but also in retail traders&#8217; circles.
Bruni further shed light on the growing interest in bond-linked Exchange-Traded Funds (ETFs) on Stocktwits. 
Retail traders have been swiftly adding Treasury-related funds, such as the iShares 20+ Year Treasury Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NYSE">TLT</a>) and the PIMCO 25 Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZROZ#NYSE">ZROZ</a>), to their watchlists.
According to Stocktwits data, the median daily message volume referencing $TLT has surged by 156% compared to the previous year. In the final week of September, there was a remarkable surge in daily message volume, marking the highest point seen all year, and the first week of October is currently tracking to match this heightened activity.
&#8220;The number of users with $TLT on their watchlist has grown 16% year-on-year to 20,637,&#8221; Bruni said. 
To capitalize on the potential for even more substantial gains during this period of heightened bond market volatility, they have become increasingly familiar with Treasury-leveraged ETFs, including the ProShares UltraShort Lehman 20 Year Treasury (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TBT#NYSE">TBT</a>) and the Direxion Daily 20-YR Treasury Bull 3x Shrs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMF#NYSE">TMF</a>).
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35113287/how-the-january-effect-could-spark-tech-stock-renaissance-in-october-q4">How The &#8216;January Effect&#8217; Could Spark Tech Stock Renaissance In October, Q4</a>
Photo: Shutterstock

Macro Economic Events

Economics

Federal Reserve

ProShares UltraShort Lehman 20+ Year Treasury

Retail Investors Dive Into Bond Market Wave: Treasury ETFs Attract Interest Amid Stock-Like Volatility

The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.
In an effort to rescue the U.S. economy from the effects of the COVID-19 pandemic, the Federal Reserve expended its heavy artillery on Sunday, slashing interest rates to near-zero while revealing a massive $700 billion bond-buying operation.
&ldquo;The effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook. In light of these developments, the Committee decided to lower the target range for the federal funds rate to 0 to 1/4 percent,&rdquo; said the Federal Open Market Committee (FOMC) <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315a.htm">in a statement</a>. &ldquo;The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.&rdquo;
As was the case when the Fed announced an emergency 50-basis point rate cut earlier this month, market reaction, judging by Sunday night futures and early Monday trading in Asia. In other words, today and the rest of this week could be an exciting time for some or of the following<a href="https://www.benzinga.com/news/20/03/15540841/market-volatility-has-led-to-several-leveraged-etfs-setting-new-records-for-inflows-and-outflows"> leveraged exchange-traded funds</a>.
<h3>Direxion Daily 20+ Year Treasury Bull 3X Shares (TMF)</h3>
Long-dated Treasuries usually aren&#39;t thought of as exciting, but that reputation has been put to bed in recent weeks due to tumbling yields and increased market volatility. Well, when yields fall (as they did again Sunday evening), price rises and that&#39;s a boon for the Direxion Daily 20+ Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmf#NYSE">TMF</a>).
TMF attempts to deliver triple the daily returns of the ICE U.S. Treasury 20+ Year Bond Index. That index excludes &ldquo;zero-coupon STRIPS, inflation-linked securities, floating rate notes, cash management and Treasury bills, and any government agency debt issued with or without a government guarantee,&rdquo; <a href="https://www.direxion.com/products/direxion-daily-20-year-treasury-bull-3x-etf">according to Direxion</a>.
Last week, TMF tumbled nearly 22% as traders yanked $52.63 million from the fund, but following Sunday&#39;s Fed news, this ETF could be poised to bounce back.
<h3>Direxion Daily Regional Banks Bear 3X Shares (WDRW)</h3>
The disclaimer is, yes, the Direxion Daily Regional Banks Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wdrw#NYSE">WDRW</a>) plunged 35% last Friday on a day when stocks surged, but weakness in the bearish regional bank could be short-lived with the Fed taking rates to near zero.
Rate-sensitive regional banks were already under pressure before the Fed&#39;s Sunday announcement due to concerns that the three rate cuts announced last year and the one revealed earlier this year would combine to depress net interest margins.
As soon as today, WDRW could give signals as to how investors will treat regional banks in the wake of the Fed&#39;s latest rate cut. WDRW looks to deliver <a href="https://www.direxion.com/products/direxion-daily-regional-banks-bull-3x-shares">triple the daily inverse returns</a> of the S&amp;P Regional Banks Select Industry Index.
<h3>Direxion Daily Homebuilders &amp; Supplies Bull 3X Shares (NAIL)</h3>
The Direxion Daily Homebuilders &amp; Supplies Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nail#NYSE">NAIL</a>) has yet to be responsive to falling mortgage rates, indicating that the geared ETF has been swept up in broader market volatility, though it did climb 7.31% on heavy volume last Friday.
&ldquo;Lower mortgage rates could continue to give the housing market a much-needed boost, which could translate to more strength for homebuilders,&rdquo; <a href="https://www.etftrends.com/quote/NAIL/">according to </a><a href="https://www.etftrends.com/quote/NAIL/">ETF Trends</a>.
NAIL may be in store for some weakness today, but it&#39;s worth considering over the near-term for active traders.
The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

Long Ideas

News

Sector ETFs

Short Ideas

Trading Ideas

NAIL

Direxion Daily Regional Banks Bear 3X Shares

WDRW

3 Leveraged ETFs For The Fed's Move To Near Zero

With the Federal Reserve lowering interest rates in July and investors flocking to safe-haven assets in August as US/China trade tensions spiked, it was a wild summer for leveraged fixed income exchange-traded funds, both the bullish and bearish varieties.
<h3>What Happened</h3>
Among the leveraged bond ETFs experiencing elevated activity were the Direxion Daily 7-10 Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tyd#NYSE">TYD</a>) and its bearish equivalent, the Direxion Daily 7-10 Year Treasury Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tyo#NYSE">TYO</a>) as well as the Direxion Daily 20+ Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmf#NYSE">TMF</a>) and the Direxion Daily 20+ Year Treasury Bear 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmv#NYSE">TMV</a>).
Some of that action has matriculated into September. For example, traders allocated nearly $14 million to the bullish TMF on Monday, good for the largest one-day inflows among all Direxion&#39;s leveraged ETFs, <a href="http://www.direxion.com/products/direxion-daily-20-year-treasury-bull-3x-etf">according to issuer data</a>.
<h3>Why It&#39;s Important </h3>
&ldquo;As volatility and uncertainty rises, so too does the desire for safety and predictability,&rdquo; <a href="http://www.direxion.com/xchange/the-hottest-leveraged-etfs-of-summer-2019">said Direxion in a recent note</a>. &ldquo;This explains the summer&rsquo;s stampede-like rush to fixed income investments, particularly treasury notes. The buying spree led to a craterous drop in already low yields in fixed income (since the yield on existing notes moves inverse to the value of new ones), which in turn resulted in several inversions of the 2-year and 10-year yield charts.&rdquo;
More recent data points augur well for bond bulls, For the 10 days ending Monday, Sept. 9, inflows to the bullish TYD, which attempts to deliver triple the daily returns of the ICE U.S. Treasury 7-10 Year Bond Index (IDCOT7TR), equaled 25% of that ETF&#39;s assets under management, good for the third-best percentage among Direxion leveraged funds.
Additionally, volume supports the move into TYD as turnover in that fund for the five days ending Sept. 9 was nearly 55% above the trailing 20-day average.
<h3>What&#39;s Next </h3>
With traders pricing in an all but guaranteed rate cut coming before the end of the year, perhaps even later this month, fall could be busy for the aforementioned Direxion bond ETFs.
&ldquo;Heading into autumn, traders can likely expect more attention paid to the fixed-income market and other rate-sensitive instruments as all eyes turn to the Federal Reserve for three more planned meetings of the FOMC,&rdquo; said the issuer. &ldquo;Because the Fed&rsquo;s current monetary policy plan seems to be &#39;there is no plan,&#39; traders will certainly be eager for whatever hints the Fed members might be willing to drop prior to the September, October and December meetings.&rdquo;
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<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/09/14401711/it-might-finally-be-time-for-this-etf">This ETF Is About To Be Vindicated</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/09/14401641/yield-and-steady-payout-growth-in-this-dividend-etf">A Dependable Dividend ETF</a>

Direxion Daily 20+ Year Treasury Bear 3X Shares

Direxion Daily 7-10 Year Treasury Bull 3X Shares

Direxion Daily 7-10 Year Treasury Bear 3X Shares

It Was A Hot Summer For Leveraged Bond ETFs

1. Direxion Daily 20-Yr Treasury Bull 3x Shares (TMF) 
2. Vanguard Total International Bond ETF (BNDX) 
3. Infinera Corporation (INFN) 
4. iShares 20+ Year Treasury Bond ETF (TLT) 
5. Vanguard Long-Treasury ETF (VGLT) 
6. Catalyst Pharmaceuticals, Inc. (CPRX) 
7. Vanguard Total Bond Market ETF (BND) 
8. Arcadia Biosciences, Inc (RKDA) 
9. iShares 7-10 Year Treasury Bond&nbsp;ETF (IEF) 
10. Shake Shack, Inc (SHAK)
This list is compiled from an analysis of the Relative Strength Index (RSI) shown on Benzinga Pro&#39;s Screener tool.

BNDX

CPRX

iShares Trust Barclays 7-10 Year Treasury Bond Fund

INFN

RKDA

SHAK

VGLT

Top 10 Most Overbought Stocks Via Benzinga Pro's Screener Tool For Thu, August 15, 2019

1. Appian Corporation&nbsp; 
2. Navigant Consulting, Inc 
3. Vitamin Shoppe, Inc&nbsp; 
4. SolarEdge Technologies, Inc 
5. Sprott Physical Silver Trust ETV 
6. Catalyst Pharmaceuticals, Inc 
7. Infinera Corporation&nbsp; 
8. Easterly Government Properties, Inc.&nbsp; 
9. Direxion Daily 20-Yr Treasury Bull 3x Shares 
10. iShares 20+ Year Treasury Bond ETF
This list is compiled from an analysis of the Relative Strength Index (RSI) shown on Benzinga Pro&#39;s Screener tool. 
&nbsp;

APPN

PSLV

RUBI

SEDG

Top 10 Most Overbought Stocks Via Benzinga Pro's Radar Tool For Tue., August 13, 2019

Last month, the yield curve inverted, meaning yields on 10-year Treasuries fell below the yields on 3-month T-bills.
Inverted yield curves have previously been reliable recession indicators, but the most recent inversion quickly normalized.
<h3>What Happened</h3>
Historically, it has taken about six months for recessions to commence following yield curve inversion, <a href="https://www.barrons.com/articles/barrons-advisor-slide-hooray-for-inverted-yield-curves-51554394162">but some market observers </a>are betting this time will be different and with the yield curve back to normal some bond funds are benefiting.
That includes leveraged bond exchange-traded funds (ETFs), such as the Direxion Daily 20+ Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmf#NYSE">TMF</a>) and the Direxion Daily 7-10 Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tyd#NYSE">TYD</a>).
<h3>Why It&#39;s Important </h3>
TMF attempts to deliver <a href="http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">triple the daily returns</a> of the ICE U.S. Treasury 20+ Year Bond Index while TYD seeks to deliver <a href="http://www.direxioninvestments.com/products/direxion-daily-7-10-year-treasury-bull-3x-etf">triple the daily returns</a> of the ICE U.S. Treasury 7-10 Year Bond Index. The two funds have also been boosted by dovish commentary by the Federal Reserve following its most recent meeting.
&ldquo;You can see that, although TYD is up 6 percent and TMF is only up about 20 percent since the beginning of March, both saw most or all of this move come over the course of just five days following the most recent FOMC meeting,&rdquo; <a href="http://www.direxioninvestments.com/xchange/does-an-inverted-yield-curve-mean-recession">said Direxion in a recent note</a>. &ldquo;While the Fed&rsquo;s dovish rate signal and mounting worries about a slowing economy are obvious catalysts for this rush to Treasurys, less obvious is just how drastic the change in demand actually was. Not only was the post-Fed move the steepest upswing for Treasurys this year, it also represented the notes&rsquo; highest price since late 2017.&rdquo;
Traders have recently displayed some affection for TMF, the long-dated leveraged play. For the five days ending Thursday, April 4th, traders added $5.40 million to the fund, good for the eighth-best total among Direxion&#39;s leveraged ETFs, <a href="http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">according to issuer data</a>.
<h3>What&#39;s Next</h3>
&ldquo;Going forward, there are some key things to watch for that might further indicate where fixed income is headed,&rdquo; said Direxion. &ldquo;Right now, investors can keep an eye on the price in the longer-term 20-30 year Treasurys, which tend to lead the 10-year notes in buying and selling activity, for an indication of which direction bond prices might be headed overall. Additionally, keep an eye on the U.S. dollar index, which remains relatively strong and has attracted international investors as a value store, more so than government bonds.&rdquo;
Related Links
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/04/13489849/the-surprising-etfs-that-will-hold-lyft-and-uber">Where Lyft And Uber Will Live In ETFs</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/19/04/13489861/a-new-spin-on-india-etfs">A New India ETF</a>

Yield Curve Normalization Lifts Leveraged Bond ETFs

It is all but official that the bull market that was born in March 2009 is either running on fumes or essentially over. Increasing fears that a global bear market is on the horizon are prompting investors to embrace safer assets.
Despite rising interest rates in the U.S., the flight to safety has some market participants embracing longer-dated U.S. Treasuries.
<h3>What Happened</h3>
Traders renewed affinity for rate-sensitive longer-dated Treasuries has some aggressive traders flocking to the Direxion Daily 20+ Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmf#NYSE">TMF</a>). That triple-levergaed exchange traded fund is designed to deliver <a href="https://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">triple the daily returns</a> of the ICE U.S. Treasury 20+ Year Bond Index (IDCOT20TR).
&ldquo;Eligible securities must be fixed rate, denominated in U.S. dollars, and have $300 million or more of outstanding face value, excluding amounts held by the Federal Reserve. Securities excluded from the Index are zero-coupon STRIPS, inflation linked securities, floating rate notes, cash management and Treasury bills, and any government agency debt issued with or without a government guarantee,&rdquo; <a href="https://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">according to Direxion</a>.
<h3>Why It&#39;s Important</h3>
TMF is up more than 18 percent on a month-to-date basis, making it the third-best leveraged bullish fund in Direxion&#39;s stable.
TMF&#39;s underlying index has <a href="https://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">a duration of 17.93 years</a> and its components have a weighted average maturity of 26.53 years, meaning the benchmark is sensitive to rising Treasury yields. More than 79 percent of the benchmark&#39;s holdings have maturities ranging from 24 to 30 years.
Leveraged ETFs, even fixed income funds, can be volatile instruments, but TMF is less volatile than the typical leveraged ETF. Over the past month, only one of Direxion&#39;s leveraged ETFs, another bond ETF, has been less volatile than TMF, <a href="https://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">according to issuer data</a>.
<h3>What&#39;s Next</h3>
On Monday, TMF hauled in $3.83 million, a total surpassed by just seven other Direxion leveraged bull funds. TMF has seen fourth-quarter outflows of almost $14 million.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12886052/this-leveraged-etf-has-doubled-this-month">This ETF Is On Fire</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/12/12849932/rethinking-global-fixed-income-strategies">A New Global Bond ETF</a>

Markets

Flight To Safety Lifts This Leveraged ETF

You won&rsquo;t find many people willing to argue that the fixed income market has been especially exciting over the past decade, even with the 10-year bond yield&rsquo;s recent <a href="http://money.cnn.com/2018/04/24/investing/10-year-yield-3-percent/index.html">rise above 3 percent</a> for the first time since 2014.
You might even ask &ldquo;Who cares about the bond market with cryptocurrencies, oil on a tear, and the equities market still smoldering?
Well, now might be exactly the time to pay attention to that yield, and funds that have exposure (or inverse) to bonds, like Direxion&rsquo;s Daily 7-10 Year Treasury Bull (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tyd#NYSE">TYD</a>) and Bear (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tyo#NYSE">TYO</a>) 3X Shares ETFs or the Daily 20+ Year Treasury Bull (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmf#NYSE">TMF</a>) and Bear (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmv#NYSE">TMV</a>) 3X Shares ETFs. However, the catalyst for this attention has nothing to do with that 3 percent milestone. Instead, traders eyeing fixed income should pay attention to some broader economic indicators that stand to shift the balance of the bond market.
For instance, the most recent meeting of the Federal Open Market Committee revealed that previous fears among investors of four or <a href="https://www.bloomberg.com/view/articles/2018-02-21/five-fed-rate-hikes-in-2018-isn-t-a-crazy-idea">even five interest rate hikes </a>this year might have been extremely overblown. The minutes from that meeting showed the committee&rsquo;s willingness to let the economy generate some heat, hoping to exceed the target 2 percent inflation that has been an extremely firm ceiling for the better part of the past decade.
The commentary in those minutes, in turn, caused demand for medium- and long-term government bonds to jump and yields to fall, as much as 3 percent in the case of the 30-year. However, this willingness to let the economy overheat assumes that the U.S. economy is in line for the type of growth it hasn&rsquo;t seen since the 2000&rsquo;s. That outcome is possible, but not guaranteed.
By the most common measure &mdash; GDP growth &mdash; the economy is grinding along at a steady clip, something like a comfortable holding pattern between 2-3 percent that we&rsquo;ve seen consistently since 2015. By other measures, corporate revenues are, on average, <a href="https://www.thestreet.com/investing/earnings/with-earnings-season-past-halfway-point-record-number-of-beats-in-crosshairs-14575596">as good as they&rsquo;ve ever been</a>. The 2018 Q1 earnings season saw 79 percent of companies report positive earnings surprises and 74 percent with positive sales surprises. Couple those figures with the potential effects of the tax overhaul and the injection of capital that represents, and it&rsquo;s hard not to see some potential in bond market yields growing beyond that 3 percent level, as investors continue to fuel the bull market.
That&rsquo;s one narrative. Another narrative is far less optimistic for fixed income and the economy at large. Consider other measures of growth and economic stability like real wage growth and individual debt. It&rsquo;s no secret to those who follow the market that wage growth has<a href="https://www.epi.org/blog/growth-or-not-in-real-wages/"> been worse than anemic</a> for the better part of 20 years. That trend has shown little sign of changing for most earners, with those in the middle and lower income percentiles earning real wages <a href="https://fas.org/sgp/crs/misc/R45090.pdf">about what they were in 1979</a>.
What is changing fairly rapidly is the levels of consumer debt obligations. One of the more dramatic perspectives on this is the precipitous rise in <a href="http://www.businessinsider.com/credit-card-delinquencies-just-passed-peak-financial-crisis-levels-2018-5">credit card delinquencies</a>. However, increases in <a href="https://www.foxbusiness.com/markets/auto-loan-rates-exceed-5-for-third-straight-month">auto loan rates</a> and <a href="https://www.usatoday.com/story/money/2018/05/24/mortgage-interest-rates-2018-7-year-high-home-sales/641263002/">mortgage rates</a> to their highest levels in years also stand to put increased debt pressure on what most Americans can (or can&rsquo;t) afford to purchase.
These factors have the potential to put a damper on the excessive growth projection and any correlated rally in fixed income vehicles. What will be key in determining the demand and, inversely, the yield on government bonds is whether the average American can afford to make those payments on that new home mortgage or auto loan. If not, don&rsquo;t expect those corporate balance sheets to stem the tide of fearful fund managers buying up as many treasury notes as the government can print.
For now, traders should look to the Bureau of Labor Statistics&rsquo; monthly report for indications of where the fruits of the economic growth are going. The fate of fixed income will depend on whether a rising tide truly does buoy all ships, or just the yachts.

The Wages Of Fear: Why Fixed Income Bears Closer Scrutiny

The December Federal Reserve meeting is right around the corner and if Fed funds futures prove to be an accurate gauge, it is likely the central bank will hike interest rates for the third time this year. Fed meetings usually create short-term trading opportunities in an array of asset classes, including leveraged exchange traded funds (ETFs).
Specifically, the Direxion Daily 7-10 Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tyd#NYSE">TYD</a>) and the Direxion Daily 7-10 Year Treasury Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tyo#NYSE">TYO</a>) could be of interest for aggressive leading up to and around the December Fed meeting. The same goes for the Direxion Daily 20+ Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>) and the Direxion Daily 20+ Year Treasury Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tmv#NYSE">TMV</a>).
TYD seeks to deliver triple the daily returns of the ICE U.S. Treasury 7-10 Year Bond Index while the bearish TYO looks to deliver triple the daily inverse returns of that benchmark. For that index, &ldquo;eligible securities must be fixed rate, denominated in U.S. dollars, and have $300 million or more of outstanding face value, excluding amounts held by the Federal Reserve. Securities excluded from the Index are zero-coupon STRIPS, inflation linked securities, floating rate notes, cash management and Treasury bills, and any government agency debt issued with or without a government guarantee,&rdquo; <a href="http:// http://www.direxioninvestments.com/products/direxion-daily-7-10-year-treasury-bull-3x-etf">according to Direxion.</a>
<h3>
	Going Longer </h3>
Duration measures a bond&#39;s sensitivity to changes in interest rates, meaning longer duration fare are usually viewed as more vulnerable to higher interest rates.
Should the Fed lay out a course for additional rate hikes in 2018, the Direxion Daily 20+ Year Treasury Bull 3X Shares could be vulnerable while TMV, the bearish equivalent, could surge.
TMF tries to deliver triple the daily returns of the ICE U.S. Treasury 20+ Year Bond Index while TMV looks to deliver triple the daily inverse returns of that index.
<h3>
	Interesting Activity</h3>
Data suggest that, in recent sessions, activity has been perking up some of Direxion&#39;s leveraged bond ETFs. For example, TYD&#39;s volume for the five-day period ended Nov. 16 was more than 66 percent above the trailing 20-day average, <a href="http://www.direxioninvestments.com/products/direxion-daily-7-10-year-treasury-bull-3x-etf">according to issuer data</a>.&nbsp;
In a sign that some traders are expecting Treasury yields to rise, TMV has averaged daily inflows of nearly $547,000 over the past month.
Related Links:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/17/11/10808952/broad-bond-exposure-on-the-cheap">A Cheap Bond ETF.&nbsp;</a>
<a href="http:// https://www.benzinga.com/trading-ideas/long-ideas/17/11/10801462/clix-over-bricks-going-shopping-with-a-couple-of-new-retail-">Nifty New Retail ETFs.</a>

Events

Interest Rises In Leveraged Bond ETFs Ahead of Fed Meeting

A leveraged ETF, when properly used, can be a powerful tool for generating income on clear directional index trends over short periods. At their most basic, that is what these daily investment vehicles are meant to accomplish.
Apart from a brief and straightforward income strategy, leveraged ETFs are also well-suited for more sophisticated trading strategies that can help optimize your overall portfolio. This could include supplementing potential profits from one ETF by investing in another correlated one, or hedging against short-term losses by adopting a stake in an inverse industry ETF.
Here are three examples of how people use leveraged ETFs as part of their overall trading strategy.
<h3>
	Leveraged ETFs To Trade News Or Data Trends</h3>
Leveraged ETFs can be a great tool to capture volatility, and some of the best sources of volatility are economic events. These events, such as a Federal Reserve rate hike decision or monthly jobs number, are scheduled far enough in advance to plan trades around ahead of time.
For example look what happened in the Direxion Daily 20+ Year Trsry Bll 3X Shr (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>), which is designed to triple the the performance of the ICE U.S. Treasury 20+ Year Bond Index, in the middle of June. The Federal Reserve raised interest rates on June 14. following the most recent Federal Open Market Committee meetings in which a rate hike was on the table.
<img alt="screen_shot_2017-07-27_at_1.54.51_pm.png" src="https://www.benzinga.com/files/u91860/screen_shot_2017-07-27_at_1.54.51_pm.png" style="width: 600px; height: 153px;" />
A rate hike was also on the table in mid-May. Note how TMF has risen in the one or two days following each FOMC meeting. This isn&rsquo;t indicative of future results, but it shows how other traders are actively watching vehicles like TMF around this event.
Also take a look at the bottom of the chart below, which shows that volume in this issue typically increases dramatically in the days leading up to FOMC meetings.
<img alt="screen_shot_2017-07-27_at_1.59.49_pm.png" src="https://www.benzinga.com/files/u91860/screen_shot_2017-07-27_at_1.59.49_pm.png" style="width: 600px; height: 217px;" />
We should emphasize, this is a limited example and may be influenced by other factors such as the announcement of a large increase in interest rates, but understanding similar immediate trend patterns presents opportunities to acquire an outsized profit from historically recurring behaviors.
<h3>
	Leveraged ETFs As A Hedge</h3>
During instances when a longer term position is expected to enter a downtrend or experience a span of bearish market sentiment, short-term daily investments in inverse leveraged ETFs can aid in protecting that asset from excessive loss in the interest of the long term position. This strategy is best utilized when larger industry or market forces might influence the immediate behavior of a stock that you are otherwise bullish on.
For example, say you bought shares in Cabot Oil &amp; Gas Corporation (NYSE: <a class="ticker" href="/stock/cog#NYSE">COG</a>) as the stock was in a downtrend that began in mid-May. The turn began following a dividend payment, which also happened to precede a scheduled OPEC meeting. This confluence could have been seen as an opportunity to acquire a temporary position in Direxion Daily Natural Gas Related Bear 3X Shares (NYSE: <a class="ticker" href="/stock/gasx#NYSE">GASX</a>), which is designed to deliver 300 percent of the opposite performance of the ISE-Revere Natural Gas Index, in addition to owning the falling Cabot shares.
<img alt="screen_shot_2017-07-27_at_2.02.56_pm.png" src="https://www.benzinga.com/files/u91860/screen_shot_2017-07-27_at_2.02.56_pm.png" style="width: 600px; height: 216px;" />
This protective position would have mitigated any ensuing, industry-wide price drop after acquiring the Cabot shares while not forcing you out of the position prematurely if he or she believes Cabot is set for run in the near future.
<h3>
	Leveraged ETFs As Complementary Trades</h3>
Because of the correlated relationship between some indexes represented by leveraged ETFs, it&rsquo;s possible to find success in acquiring simultaneous positions in two leveraged investments at once, one bull and one bear. While this strategy can mitigate losses in the case of unpredictable fluctuations in one ETF by the inverse reaction of another ETF in a related industry, it can also further amplify returns in the case of ETFs representing industries with negative correlations.
Two such sectors with negative correlations are represented by Direxion Daily Transportation Bull 3X Shares (NYSE:TPOR) and Direxion Daily S&amp;P Oil &amp; Gas Exp. &amp; Prod. Bear 3X Shares (NYSE: <a class="ticker" href="/stock/drip#NYSE">DRIP</a>). The logical reasoning behind this relationship is fairly straightforward. As gas and oil prices fall, and oil stocks respond in kind, delivery, airline, and other oil consuming businesses with stocks represented by TPOR tend to rise.
<img alt="screen_shot_2017-07-27_at_2.08.01_pm.png" src="https://www.benzinga.com/files/u91860/screen_shot_2017-07-27_at_2.08.01_pm.png" style="width: 600px; height: 213px;" />
However, while this correlation has existed in the past, and makes logical sense, the stock market isn&rsquo;t always logical. So there&rsquo;s no guarantee this trend will persist. Recognizing these pairs can potentially compound the effectiveness of a daily leveraged ETF strategy if implemented and managed diligently.
It is again critical to note that the efficacy of leveraged ETFs are best realized over no more than a day. An unexpected news release overnight or just the whims of the market acting on the underlying index can ruin any leveraged ETF strategy if you&rsquo;re not actively managing your position.
Nevertheless, becoming more sophisticated in implementing leveraged ETFs can be a powerful short term strategy and can supplement a knowledgeable trader&rsquo;s portfolio.

Education

General

DRIP

GASX

3 Strategies That You Can Use To Incorporate Leveraged ETFs Into Your Trading

Amid increased market volatility and concerns about the goings on within the Trump Administration, expectations are shifting regarding the Federal Reserve&#39;s ability to move forward with a June interest rate hike or more rate increases at all this year.
&nbsp;
As it is, the Fed sounded a surprisingly dovish tone when it raised rates in March, which weighed on assets positively correlated to higher interest rates, including financial services stocks <a href="https://www.benzinga.com/trading-ideas/long-ideas/17/04/9261158/traders-turn-bearish-on-financial-etfs">and the relevant exchange traded funds</a>.
&nbsp;
Of course, no interest rate increases should be good for Treasury prices, meaning lower yields could be forthcoming. That could translate to good news for scores of fixed income ETFs, including some leveraged plays such as the Direxion Daily 7-10 Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tyd#NYSE">TYD</a>) and the Direxion Daily 20+ Year Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>).
&nbsp;
TMF attempts to deliver triple the daily returns of the ICE U.S. Treasury 20+ Year Bond Index. That index &ldquo;is a market value weighted index that includes publicly issued U.S. Treasury securities that have a remaining maturity of greater than 20 years. Eligible securities must be fixed rate, denominated in U.S. dollars, and have $300 million or more of outstanding face value, excluding amounts held by the Federal Reserve. Securities excluded from the Index are zero-coupon STRIPS, inflation linked securities, floating rate notes, cash management and Treasury bills, and any government agency debt issued with or without a government guarantee,&rdquo; <a href="http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">according to Direxion</a>.&nbsp;
&nbsp;
TYD seeks to deliver triple the daily performance of the ICE U.S. Treasury 7-10 Year Bond Index, which is also a cap-weighted benchmark, <a href="http://www.direxioninvestments.com/products/direxion-daily-7-10-year-treasury-bull-3x-etf">according to Direxion</a>.&nbsp;
&nbsp;
&ldquo;Because interest rates are implemented as a measure to mitigate inflation in times of economic growth, the value of low-rate bonds are further lessened as investors weigh their portfolios with more reactive securities,&rdquo; <a href="http://www.direxioninvestments.com/xchange/trading-debt-in-a-rising-interest-rate-environment">said Direxion in a recent research piece</a>. &ldquo;These forces have played out in a variety of ways since late 2016, particularly in the wake of the post-election market rally which saw ICE U.S. Treasury 7-10 and 20+ Year Bond Indexes fall sharply, the former by 6.2 percent and the latter by 9.8 percent, by December 16.&rdquo;&nbsp;
&nbsp;
Recent flows data suggest traders have been bearish on government bonds, perhaps expecting a June rate hike. For example, TMF&#39;s bearish counterpart, the Direxion Daily 20+ Year Treasury Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tmv#NYSE">TMV</a>), has averaged daily inflows of $537,500 over the past month, according to issuer data.

Intraday Update

Leveraged Bond ETFs For A Shifting Fed Outlook

The S&amp;P 500 gained 3.7 percent in November as investors piled into equity funds. Another way of looking at that scenario is that November was unkind to bonds and fixed income exchange traded funds. In fact, data suggest short sellers eagerly targeted bond funds last month.

	Two bond ETFs remain among this year&#39;s top 10 asset-gathering ETFs, but that&#39;s well below the peak seen earlier this year when as many as five or six of the 10 best asset-gathering ETFs <a href="http:// http://www.benzinga.com/trading-ideas/long-ideas/16/10/8540468/the-growth-of-bond-etfs-is-staggering">were bond funds</a>.

	&ldquo;November has been a unanimously tough month for fixed income investors as the growing consensus around a US interest rate hike and the creeping specter of inflation has sent global benchmark rates spiking to the highest levels in over a year. Every major asset class, save for Indian rupee denominated bonds and high yield sterling bonds, posted negative total returns for the month,&rdquo; <a href="http://www.markit.com/Commentary/Get/02122016-Equities-Bond-ETFs-bears-surge-over-November">said Markit in a recent note</a>.

	Through the first half of 2016, about $40 billion flowed into bond ETFs, with approximately half of that total flowing into iShares products, in the third annual version of &ldquo;Institutional Investors Embrace Bond ETFs,&rdquo; according to recent study by BlackRock and Greenwich Associates.

	With bond traders believing that a rate hike by the Federal Reserve later this month is a sure thing, investors departed some previously beloved Treasury ETFs in November. For example, the iShares 20+ Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>) lost $274.3 million assets last month while the iShares 7-10 Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/ief#NYSE">IEF</a>) bled nearly $130 million.

	The Direxion Daily 20+ Year Treasury 3X Bear Shares (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>) recently saw increased volume. For the five days ended December 1, TMF&#39;s volume was nearly 23 percent above its trailing 20-day average. TMF attempts to deliver <a href="http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">triple the daily inverse</a> returns of the ICE U.S. Treasury 20+ Year Bond Index.

	With intensifying rate hike speculation, it&#39;s not surprising that short sellers are eagerly targeting junk bond ETFs, such as the iShares iBoxx $ High Yield Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>) and the SPDR Bloomberg Barclays High Yield Bond ETF (NYSE: <a class="ticker" href="/stock/jnk#NYSE">JNK</a>).

	HYG and JNK are the two largest junk bond ETFs trading in the US.

	&ldquo;High yield bonds are by far and away the most in demand from short sellers as the two largest US listed funds that invest in the asset class, the iShares iBoxx $ High Yield Corporate Bond Fund and the Spdr Bloomberg Barclays High Yield Bond ETF make up half the aggregate bond ETF borrow with $2.9bn and $1.3bn of these funds now out on loan respectively. The recent volatility hasn&rsquo;t spurred much additional borrow demand for these funds however as both their value on loan have been relatively flat over the last month,&rdquo; adds Markit.

The Bond Bears Growled In November

Yields on 10-year Treasurys are tumbling this year, but over the five trading sessions concluding Monday, that same yield is higher by nearly 7.7 percent. Five days does not undo more than six months of good work by fixed income exchange-traded funds, one of this year&#39;s hottest asset classes, but this could be an opportunity for nimble traders to play a quick rebound in U.S. government debt or a longer retreat with leveraged ETFs.
<h3>
	Traders Express Interest</h3>

	Data indicate some traders have already been keeping tabs on the <a href="http://www.direxioninvestments.com/products/direxion-daily-7-10-year-treasury-bull-3x-etf#">Direxion Daily 7-10 Year Treasury Bull 3X Shares&nbsp;</a>(NYSE: <a class="ticker" href="/stock/tyd#NYSE">TYD</a>) and the <a href="http://www.direxioninvestments.com/products/direxion-daily-7-10-year-treasury-bull-3x-etf#">Direxion Daily 7-10 Year Treasury Bear 3X Shares&nbsp;</a>(NYSE: <a class="ticker" href="/stock/tyo#NYSE">TYO</a>). As their names imply, TYD and TYO are triple-leveraged plays on mid-duration Treasurys. TYD attempts to deliver triple the daily performance of the ICE U.S. Treasury 7-10 Year Bond Index while TYO seeks to deliver triple the daily inverse returns of that benchmark.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/07/8225472/call-on-consistency-with-this-dividend-etf">Call On Consistency With This Dividend ETF</a></bzrelatedlink>

	Volume data indicate some traders are comfortable betting on more upside for 7-10 Treasurys while others are comfortable making bearish wagers. For the five-day period ended July 15, TYO&#39;s average volume was more than 105 percent above the trailing 20-day average, according to Direxion data. Likewise, TYD&#39;s volume over those five days was almost 86 percent higher than its trailing 20-day average. Only one of Direxion&#39;s leveraged ETFs saw a greater volume spike than TYO over those five days and only two, including TYO, saw great increases in turnover than TYD.
<h3>
	An ETF Idea</h3>

	If the charts prove accurate, the<a href="http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf#"> Direxion Daily 20 Year Plus Treasury Bear</a> (NYSE: <a class="ticker" href="/stock/tmv#NYSE">TMV</a>) could also be a fine near-term idea. Longer-date Treasurys have been soaring this year as the Federal Reserve continually passes on boosting interest rates, but these bonds&nbsp;appear vulnerable to near-term retrenchment.

	&ldquo;TLT is attempting to breakout, as it is kissing the underside of channel resistance, for the 4th time in the last decade. As it is kissing resistance, weekly momentum is now reaching lofty levels,&rdquo; noted Chris Kimble of <a href="http:// http://blog.kimblechartingsolutions.com/2016/07/govt-bonds-tlt-peaking-as-it-kisses-the-underside-of-resistance/">Kimble Charting Solutions</a>. &ldquo;No doubt about it, from a Power of the Pattern perspective, TLT finds itself at a very interesting price point at this time.&rdquo;

	If TLT can keep soaring, TMV would logically falter, but the <a href="http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf#">Direxion Daily 20+ Year Treasury Bull 3X Shares</a> (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>) would soar. Direxion data indicate recent volume increases, though modest, for TMV while volume has been <a href="http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf">declining slightly in TMF</a>.

	Did you like this article? Could it have been improved? Please email <a href="mailto:feedback@benzinga.com">feedback@benzinga.com</a> with the story link to let us know!

Loving Leveraged Bond ETFs

Now just over two months into 2016, it is accurate to say the drive to safe-haven assets has been a boon for fixed income exchange-traded funds, primarily those ETFs holding U.S. government debt. Six such funds rank among this year&#39;s top 10 asset-gathering ETFs.
And the returns have not been shabby, either. As just one example, the iShares Barclays 7-10 Year Trasry Bnd Fd (NYSE: <a class="ticker" href="/stock/ief#NYSE">IEF</a>), which has added nearly $2 billion in new assets, is higher by almost 4 percent on the year, while the S&amp;P 500 is lower by 2.5 percent.
<h3>Bond ETFs</h3>
Of course, by taking on the risk of leverage, adventurous traders have rewarded in significant fashion with select bond ETFs. For example, two months and a day of ownership of the Direxion Daily 7-10 Yr Trsry Bull 3X Shr (NYSE: <a class="ticker" href="/stock/tyd#NYSE">TYD</a>) means traders that made that bet are up almost 16 percent.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/02/6543011/looking-for-real-yields-on-sovereign-debt-a-new-etf-can-help">Looking For Real Yields On Sovereign Debt? A New ETF Can Help</a></bzrelatedlink>
TYD attempts to deliver triple the daily returns of the NYSE 7-10 Year Treasury Bond Index (AXSVTN). Though it is leveraged, TMF is predictably less volatile than equity-based leveraged ETFs. Over the past 30 days, only one of Direxion&#39;s bullish leveraged ETFs has been less volatile than TMF.
Plunging Treasury yields have lured investors to longer-dated gov bond funds. That trend explains the $2.5 billion of inflows to the iShares Barclays 20+ Yr Treas.Bond (ETF) (NYSE: <a class="ticker" href="/stock/tlt#NYSE">TLT</a>). It also explains why the Direxion Daily 20+ Year Trsry Bll 3x Shr (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>) is higher by almost 22 percent year to date.
Although it is a triple-leveraged ETF, TMF is not excessively volatile, either. Only two Direxion leveraged bullish ETFs, including TYD, have been more volatile than TMF.
With the benefit of hindsight, it is clear TMF and TYD have been easy money trades this year, as leveraged plays on a prominent bond theme. However, traders have missed out as TMF has lost $9.62 million in assets and no money has come into or departed TYD.
There are some signs that could be changing. For the five-day period ended March 1, volume in TYD was more than 78 percent above the trailing 20-day average, <a href="http://www.direxioninvestments.com/wp-content/uploads/2014/03/Direxion-Daily-ETF.pdf?utm_campaign=Daily%20Performance%20Email%20030116&amp;utm_medium=email&amp;utm_source=Eloqua&amp;elqTrackId=82fe7e279d464a65b698c61679ee99c9&amp;elq=cfe16aa6d5b146f6a88e851eb55968af&amp;elqaid=2170&amp;elqat=1&amp;elqCampaignId=1360">according to Direxion data</a>. 
Image Credit: <a href="https://pixabay.com/en/fire-flame-electrically-energy-1072680/">Public Domain</a>

These Bond ETFs Are On Fire

Here is the ETF Professor's ETF Watch List for Thursday December 8, 2011.

Grab the iShares Gold Trust (NYSE: <a class="ticker" href="/stock/iau#NYSE">IAU</a>) before gold heads to $2,200 per ounce. 

The Teucrium Corn ETF (NYSE: <a class="ticker" href="/stock/corn#NYSE">CORN</a>) is in technical trouble.

The Direxion Daily Financial Bull 3X Shares (NYSE: <a class="ticker" href="/stock/fas#NYSE">FAS</a>) was up almost 3.6% on Wednesday.

Emerging markets plays of the day: EGShares Emerging Markets Consumer ETF (NYSE: <a class="ticker" href="/stock/econ#NYSE">ECON</a>), iShares MSCI Chile Investable Market Index Fund (NYSE: <a class="ticker" href="/stock/ech#NYSE">ECH</a>) and the Market Vectors Indonesia ETF.

Forex play of the day: ProShares UltraShort Euro (NYSE: <a class="ticker" href="/stock/euo#NYSE">EUO</a>).

Bond play of the day: Direxion Daily 20+ Yr Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>).

Broad U.S. Equity ETFs

New ETFs

Emerging Market ETFs

Currency ETFs

CORN

Emerging Global Shares Dow Jones Emerging Marketsnsumer Titan Index Fund

ECON

ETFs to Watch December 8, 2011

Here is the ETF Professor's ETF Watch List for Tuesday December 6, 2011.

The Direxion Daily Small Cap Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tna#NYSE">TNA</a>) is starting to look interesting.

Another leveraged play: Direxion Daily Energy Bull 3X Shares (NYSE: <a class="ticker" href="/stock/erx#NYSE">ERX</a>).

Financials looked strong on Monday, so trade the iShares Dow Jones US Financial Sector ETF (NYSE: <a class="ticker" href="/stock/iyf#NYSE">IYF</a>).

Emerging markets plays of the day: iShares MSCI Brazil Index Fund (NYSE: <a class="ticker" href="/stock/ewz#NYSE">EWZ</a>), Direxion Daily Latin America Bull 3X Shares (NYSE: LBJ) ant the Market Vectors Vietnam ETF (NYSE: <a class="ticker" href="/stock/vnm#NYSE">VNM</a>).

Forex play of the day: CurrencyShares Australian Dollar Trust (NYSE: <a class="ticker" href="/stock/fxa#NYSE">FXA</a>).

Bond play of the day: Direxion Daily 20+ Yr Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>).

Pre-Market Outlook

iShares Dow Jones US Financial Sector Index Fund

ETFs to Watch December 6, 2011

VelocityShares Daily 2x VIX Short Term ETN (AMEX: <a class="ticker" href="/stock/tvix#AMEX">TVIX</a>) led the gainers among the ETFs on Monday with an increase of 21.88%. TVIX closed at $45.40, and it had a volume of 4.53M trading shares. 

Direxion Daily Energy Bear 3X Shares(<a class="ticker" href="/stock/etf#">ETF</a>) (AMEX: <a class="ticker" href="/stock/ery#AMEX">ERY</a>) jumped 13.10%, and closed at $12.95. In the energy space, Anadarko Petroleum Corporation (NYSE: <a class="ticker" href="/stock/apc#NYSE">APC</a>) dropped 6.26%, and Peabody Energy Corporation (NYSE: <a class="ticker" href="/stock/btu#NYSE">BTU</a>) lost 7.41%. 

Direxion Daily 30-Year Treasury Bull 3X Shares (AMEX: <a class="ticker" href="/stock/tmf#AMEX">TMF</a>) gained 11.83% on Monday, and it closed at $62.75. This was the second trading session in a row that TMF closed lower. 

Direxion Daily Emerging Markets Bear 3x Shares(<a class="ticker" href="/stock/etf#">ETF</a>) (AMEX: <a class="ticker" href="/stock/edz#AMEX">EDZ</a>) added 11.39% today as Vale (ADR) (NYSE: <a class="ticker" href="/stock/vale#NYSE">VALE</a>) dropped 4.55%, and Banco Bradesco SA (ADR) (NYSE: <a class="ticker" href="/stock/bbd#NYSE">BBD</a>) lost 3.75%.

Direxion Daily Emerging Markets Bear 3x Shares

Aberdeen Emerging Markets Telecommunications & Infrastructure Fund

TVIX

VALE

Benzinga's Top ETF Gainers, October 31st (TVIX, ERY, TMF, EDZ)

Here is the ETF Professor's ETF Watch List for Friday September 23, 2011.

Due for a rebound: iShares COMEX Gold Trust (NYSE: <a class="ticker" href="/stock/iau#NYSE">IAU</a>).

Desperate for defense? Try the SPDR Select Sector Utilities (NYSE: <a class="ticker" href="/stock/xlu#NYSE">XLU</a>).

Top inverse ideas: ProShares UltraShort Basic Materials (NYSE: <a class="ticker" href="/stock/smn#NYSE">SMN</a>) and the ProShares UltraShort Oil &amp; Gas (NYSE: <a class="ticker" href="/stock/dug#NYSE">DUG</a>).

Emerging markets plays of the day: Direxion Daily India 2X Bear Shares (NYSE: <a class="ticker" href="/stock/indz#NYSE">INDZ</a>), ProShares UltraShort MSCI EAFE (NYSE: <a class="ticker" href="/stock/efu#NYSE">EFU</a>) and the Direxion Daily Latin America 3X Bear Shares (NYSE: LHB).

Forex play of the day: PowerShares DB US Dollar Index Bullish (NYSE: <a class="ticker" href="/stock/uup#NYSE">UUP</a>).

Bond play of the day: Direxion Daily 20+ Yr Treasury Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tmf#NYSE">TMF</a>).

INDZ

PowerShares DB US Dollar Index Bullish Fund

Comments

Direxion Daily 20-Yr Treasury Bull 3x Shrs

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