We have been long the ProShares UltraShort 20+ Year Treasury (TBT) — the inverse, double-levered, longer-term T-bond ETF — in our MPTrader Model Portolio, expecting a downturn in T-bond prices in conjunction with a generational opportunity to capture the upturn in yield and interest rates after a 35-year bear market.
Yes, “the turn” has become a marathon, certainly not a sprint. However, increasingly my big-picture technical chart set-up argues strongly that yield will inexorably grind higher towards significant bullish catalysts that will propel both yield and the TBT higher in the months ahead.
