Sell Drachma, Buy US Treasury ETF (TLT)
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Barclays 20 Year Treasury Bond Fund (NYSE: TLT) is making a nice move higher today, posting a 1.45 percent gain.
The ETF, which tracks the performance of U.S. Treasury securities that have a remaining maturity of at least 20 years, is benefiting from the safe-haven status of U.S. bonds. The move higher is directly related to news reports out of Europe that Greece will exit the EU, abandon the Euro, and raise the drachma from the dead.
Longer dated bonds have been on a tear recently, with yields on the 10 year treasury breaking 1.8% for the first time since Oct. 3, 2010. JPMorgan revised its 10-year yield forecast today, saying we could see 1.50 percent.
The ETF, which tracks the performance of U.S. Treasury securities that have a remaining maturity of at least 20 years, is benefiting from the safe-haven status of U.S. bonds. The move higher is directly related to news reports out of Europe that Greece will exit the EU, abandon the Euro, and raise the drachma from the dead.
Longer dated bonds have been on a tear recently, with yields on the 10 year treasury breaking 1.8% for the first time since Oct. 3, 2010. JPMorgan revised its 10-year yield forecast today, saying we could see 1.50 percent.
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