Since last week’s FOMC decision to raise target interest rates again, we have seen bond prices rally (yields fall), pulling bond ETFs such as TLT (iShares 20+ Year Treasury Bond, Expense Ratio 0.15%) with them.
TLT in fact traded at its highest levels yesterday since Trump’s election last November, but we have seen some moderate outflows in the product with portfolio managers likely taking some profits here (over $500 million out via redemptions).