Investors are bailing out of the biggest exchange-traded fund devoted to Treasuries at the fastest pace since markets were hammered during the early months of the pandemic.
More than $1.8 billion came out of the $39 billion iShares 20+ Year Treasury Bond ETF last week, the most since March 2020, data compiled by Bloomberg show. The fund’s price had dropped more than 3% the week prior and another 1.2% in the five-day stretch ending Friday.
With more supply on the way as the government contends with mounting deficits, it’s possible that investors are freeing up cash and pulling out of products such as TLT, according to Winnie Cisar, global head of credit strategy at CreditSights.
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