Guessing what the Federal Reserve is going to do next is an increasingly difficult task. For some time, the war in Iran bolstered the possibility that the central bank would have to raise rates at some point this year to damp inflation.
For the first six months of 2024, the Direxion Daily 7-10 Year Treasury Bull 3X Shares (TYD) was trending lower. That's because he higher-for-longer interest rates narrative was pushing bond prices lower.