- Short sellers shifted Treasury ETF exposure toward intermediate maturities ahead of the Federal Reserve's policy decision, according to S3 Research.
- Investors took profits on bets against long-duration debt, with TLT described as the most profitable short in the Treasury ETF complex.
- Daily ETF flow data for September 11 showed investors scooping up TLT even as the short base rotated.
Quotes
“Short sellers have shifted their Treasury ETF positioning toward intermediate maturities ahead of the Federal Reserve's policy decision, even as investors take profits on bets against long-duration debt, according to S3 Research.”