The Direxion Daily 20-Yr Treasury Bull 3x ETF (TMF) is experiencing upward movement as investors flock to U.S. Treasuries amid heightened market volatility. The imposition of U.S. tariffs on imports from Mexico, Canada, and China has triggered a wave of safe-haven buying, pushing yields on the 10-year U.S. Treasury note down toward 4.5%, the lowest level in seven weeks. This flight to safety is driven by concerns over potential retaliatory measures from affected countries and the broader implications for global trade. Additionally, traders have adjusted their expectations for Federal Reserve interest rate cuts, given the recent inflation data aligning with the Federal Open Market Committee's projections.
The TMF ETF rose to $41.38, marking a 3.70% increase from the previous close as of 10:00 AM ET on February 3rd.