Bond ETF Extends Steepest Rally Since 2011 U.S. Downgrade
- TLT is up 8.5% in nine-day advance that is longest since 2006
- Debt fund outpaces SPY amid heightened global growth concern
The U.S. Treasury building in Washington, D.C.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The stampede into haven assets has been so swift that an exchange-traded fund focused on long-term Treasuries is notching up its biggest advance in eight years.
A nine-day rally of about 8.5% for the iShares 20+ Year Treasury Bond ETF, or TLT, is the largest since the U.S. government debt was downgraded in August 2011, data compiled by Bloomberg show. The winning streak is also the longest since 2006. What’s more, the surge has put the fund ahead of the biggest ETF that tracks U.S. stocks, which has tumbled around 5% over the same period.