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Bond Bounce Waning? Investors Starting To Dump The TLT

Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, today pointing out continued interest in emerging markets, an exodus from a popular Treasury bond fund, and some bearish options bets being made against the financial sector.

Beginning of the month tactical model changes brought some life to both Equity and Fixed Income ETFs yesterday in terms of increased volumes across specific segments. SPY continues to attract net new assets in the near term, and as we mentioned yesterday, two prominent “EAFE Equity” ETFs, EFA (iShares MSCI EAFE) and IEFA (iShares Core MSCI EAFE) both pulled in over $1.2 billion and $450 million in the past several sessions, including yesterday.

Elsewhere, leading all ETP outflows lately is TLT (iShares 20+ Year Treasury Bond), which has seen about $800 million leave the fund via redemptions on a rally in Bond prices lately (not to mention lower interest rates).

Elsewhere, in what was a high relative strength performer up until about the end of February, we have seen a decent drawdown in Financials. We’ve also noticed June 22 puts lately in XLF (SPDR Financials), suggesting that some may see further downside in the sector there.

The iShares Barclays 20+ Year Treasury Bond ETF (NASDAQ:TLT) was trading at $121.22 per share on Tuesday morning, down $0.45 (-0.37%). Year-to-date, TLT has gained 1.75%, versus a 5.27% rise in the benchmark S&P 500 index during the same period.

TLT currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #18 of 27 ETFs in the Government Bonds ETFs category.

Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch

paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.

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