The TMF ETF, which seeks to deliver three times the daily performance of the ICE U.S. Treasury 20+ Year Bond Index, is in focus as investors brace for the upcoming nonfarm payrolls data. The anticipation of this key economic indicator has led to a stabilization in bond markets, following a period of rising yields that pushed 30-year Treasury yields to their highest levels since 2023. This stabilization reflects market expectations that the Federal Reserve may adjust its policy stance based on the forthcoming employment figures.
The broader market context includes a modest decline in U.S. stock futures, driven by concerns over potentially less favorable job data, which could signal an economic slowdown. Meanwhile, the dollar has strengthened slightly, which could impact U.S. export competitiveness, while crude oil prices have risen, suggesting increased demand or supply constraints that may influence inflation expectations.
As of 15:20 on January 9, TMF is trading at $37.94, slightly down from its last close of $37.98. The ETF opened at $37.32, reaching an intraday high of $38.29 and a low of $37.16, marking its 52-week low.