TKL: A popular bond-tracking ETF TLT has posted a record $7.4 billion in net outflows over the last 2 months. This is nearly double the previous record seen in mid-2020, at the beginning of the bear market in long-term bonds.

TKL: A popular bond-tracking ETF TLT has posted a record $7.4 billion in net outflows over the last 2 months. This is nearly double the previous record seen in mid-2020, at the beginning of the bear market in long-term bonds.

To put this into perspective, TLT has $49.7 billion in assets under management.

This comes as the 30-year Treasury yield is up 50+ basis points over the last 2 months, to 4.9%, marking a 14-month high.

As a result, TLT is down 5.1% during this period and is trading near the lowest level since November 2023.

Is the short bonds trade too crowded?

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