TLT finally fell of its support ledge on Friday and you have to look closely at the VDX chart to realize exactly how far "oversold" TLT has become. Of course, it can be argued that we are now in a new paradigm of rising yields and hence Treasuries may in fact just need to be repriced to reflect this reality. When TLT gets down to the 90 level I will definitely be a buyer. Until then the high yield bond ETFs like HYG and JNK show some good odds going forward into 2017. Eyes on the FED this week with the FED Fund consensus at 100% that we'll see a rate hike...which is probably already priced into the markets so we may not see the wild roller coaster price action typical of FED days.
Following the VDX updates I've posted an excerpt from the State Street Advisors link posted earlier this week with a description of the Yellen collar.