how can this be short treasuries, they skyrocketed today! I don't understand, this should be down big but it's up too! How exactly does this work?
Because it isn't short treasuries. It's a *short*term* treasury ETF. That's why the share price barely moves (check the chart).IMHO it's about as close as an ETF gets to a money market fund.
Thanks for making that evident. TBT is actually short treasuries