BLV: On The Wrong Side Of The Debasement Trade

2026-02-09 05:03:55 ET

The Vanguard Long-Term Bond ETF ( BLV ) is a longer-duration fixed-income ETF focused on US bets. Credit ratings are modally around BBB, so corporate investment grade, but there are also considerable government bond exposures. Longer-term yields, beyond 20 years, are beginning to come up due to structural factors. Short-term rates factor a little bit into longer-term rate considerations but not that much, so the possibility of more cuts isn't that helpful for the ETF....

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