Bond Shorts Burned After Tech Selloff Reignites Treasury Rally
- TLT short interest jumps to highest level since 2018 last week
- Treasuries stage rally as deepening tech rout spurs haven bid
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Newly minted bond bears got a harsh lesson in market timing on Tuesday as a precipitous drop in technology shares sent investors in search of havens.
Short interest as a percentage of shares outstanding on the $17.2 billion iShares 20+ Year Treasury Bond ETF, ticker TLT, jumped to 9.8% from about 4.4% from the start of last week, according to data from IHS Markit Ltd. That’s the highest level since 2018.