Nearly $2.3 billion has streamed into the the Direxion Daily 20+ Year Treasury Bull 3X this year, including more than $500 million in the past month, data compiled by Bloomberg show. Inflows are building even as TMF’s losses intensify, with the ETF sitting on a year-to-date decline of roughly 22% through Wednesday.
“Nobody is using TMF for long-term exposure,” said Nadig, a financial futurist at the data provider. “Nobody’s buying and holding it for 10 years. They’re day-trading it. More volume means more assets needed.” The appetite has only been building for TMF as losses deepen. The bulk of the ETF’s 2023 plunge has come in the last month as 30-year Treasury yields surged. The more than 20% slump for TMF compares to a 4% year-to-date drop for the $39 billion iShares 20+ Year Treasury Bond ETF as of Wednesday’s close.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
StockX CEO: Footwear is seeing 'triple-digit growth' on the luxury resale marketThe value of luxury resale markets is expected to grow exponentially in the coming years. Currently, back-to-school shopping and collaborations between brands or artists are the core trends encouraging consumers to fill up their online check-out cart. 'We're a platform that's powered by the people, and we use that power to harness effectively our lens of what current culture represents,' StockX CEO Scott Cutler tells Yahoo Finance Live, adding: 'New Balance, which narrowly missed the top five among fastest growing, but it is the only sneaker that ranks both in the top ten in terms of fastest growing but also the top ten best-selling sneaker brands on StockX.' Cutler uses footwear sales as an example to illustrate the dynamic between pricing and value that resonates with consumers, and how StockX could leverage generative AI models to optimize its platform and sales data.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »