These suggest a prolonged phase of tight monetary policy geared toward tackling inflation (read: Bet on Quality ETFs as Fed Keeps Rate Steady, View Hawkish). Moreover, the ultra-popular iShares 20+ Year Treasury Bond ETF TLT, with an asset base of $39 billion and an average daily volume of around 25.5 million shares, is undergoing its most significant drawdown to date due to the Fed's sustained high interest rates. Concurrently, data from IHS Markit Ltd. indicates a rising trend of bets against the fund, with short interest relative to its outstanding shares at a peak for the past month.