Playing the Treasuries rush
Profit from Moody's recent downgrade of Ireland.
Written by Douglas Estadt
Moody’s (MCO) downgraded Ireland Friday, which resulted in a mad rush to buy U.S. Treasuries. This reaction is startling due to the fact that the term PIIGS (describing doomed European countries) has been tossed around for some time.
PIIGS is an acronym describing the struggling economies of Portugal, Italy, Ireland, Greece and Spain.
TBT corresponds to twice the opposite of the daily performance of the Barclays Capital 20+ Year U.S. Treasury Bond Index.
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