BetaShares Treasury Bond 20+ year ETF (GGOV) & ProShares Ultra Short Yen (YCS US) ETF

The weakness in the Bonds, as yields rise, and strength in the USDYPY as the Yen plumbs fresh 24-year lows couldn’t be more pronounced but we believe both moves are maturing extremely fast i.e. its hard to imagine the news around interest rates & inflation deteriorating further in 2022. These are both major macro moves that MM has been discussing for months but for the first time following last night stronger than expected CPI we believe the risk / reward has swung in favour of donning our contrarian hat and fading the moves.

• We are looking to start accumulating the BetaShares Treasury Bond 20+ year ETF (GGOV) as it tests our $16.50 target area in line with the US 10-year yields test / break of their June 3.5% high.
• Similarly we are looking to take profit on our ProShares Ultra Short Yen (YCS US) ETF.