Historically Low Prices
TLT dropped significantly in recent years. Limited downside, entry opportunity at an attractive level.
US Treasury long bonds (20+ years) - exposure to long duration in US dollars.
Promoted from Neutral to Optimistic on Oct 18, 2026, with weight increasing from 10% to 15%. US interest rates are at historical highs, allowing us to still ride the appreciation of long-term Treasuries while boosting dollar exposure, which remains cheap. Both direct TLT and BTLT39 work well.
TLT dropped significantly in recent years. Limited downside, entry opportunity at an attractive level.
In crises and market corrections, investors flee to US treasury bonds. Protection against the AI bubble.
Dollar rises ~8% per year vs real + dividend ~3% = 11% already guaranteed. Potential for another 5-10% with bond appreciation.
TLT is the ETF for US Treasury bonds of 20 years or more. When US interest rates fall, its price rises; when they rise, it falls. In Brazil, BTLT39 provides the same exposure on the exchange.
This analysis reflects the channel's opinion and does not constitute investment recommendation. Long bonds have high volatility.