iShares TLT ETF sinks to lows last seen in June 2004

03% on the week and reaching its lowest level since June 2004. S. S. government.

TLT peaked above $170 in 2020 and now sits roughly 52% below that high. S. long-bond selloff has intensified since late June. 216%, the highest auction yield in roughly 25 years.

The pressure is coming from several directions. 7%. 75% on July 29, but three policymakers preferred a quarter-point increase. Fiscal supply is the other major concern.

Treasury on August 3 raised its July-September borrowing estimate to $739 billion, $68 billion above its May projection. Its advisory committee also said projected funding gaps could require higher coupon issuance in fiscal 2027. Energy shocks have added another inflation risk. Treasury’s borrowing advisers said renewed Iran tensions pushed oil higher in July and helped markets shift from expecting rate cuts toward pricing possible hikes.

Even softer July consumer inflation has not reversed that longer-term concern. Higher long yields matter well beyond Treasuries: they raise mortgage, corporate and government borrowing costs and can pressure stock valuations. Image: Envato Elements