---
symbol: "TLT"
name: "iShares 20+ Year Treasury"
date: 2026-11-13
change_pct: -1.756656804733742
direction: "down"
event_type: "macro_print"
url: "https://perplo.app/why/TLT/2026-11-13"
updated_at: 2026-11-13T02:07:05.400Z
---

# Why iShares 20+ Year Treasury (TLT) fell 1.76% on November 13, 2026

iShares 20+ Year Treasury (TLT) fell 1.76% on November 13, 2026 — Two-year yield jump to 4.892% pressures long bonds.

## What happened

The two-year US Treasury yield rose to 4.892%, its highest level in a month. The 20+ year Treasury ETF fell 1.8% as yields moved higher along the curve.

## Why it moved

TLT holds long-duration bonds, so when yields rise, its price falls in proportion to duration, and a move in the two-year signals repricing of rate expectations that spills into the long end.

## Why it matters

This is a rates repricing rather than a single-name story, with the market pushing back on the path of cuts as inflation proves sticky.

## What would break the thesis

A softer inflation print or dovish Fed remarks would pull yields back down and recover TLT's losses. Any sign that the front end keeps climbing would extend the pressure on long-duration bonds.

## Sources

- [TWO-YEAR US TREASURY YIELD ADVANCES TO ITS HIGHEST LEVEL IN ONE MONTH AT 4.8920%](https://t.me/marketfeed/1076886) — MarketFeed
- [Fed’s Williams says inflation stubbornly high and Fed still has work to do on policy](https://investinglive.com/central-banks/fed-s-williams-says-inflation-stubbornly-high-and-fed-still-has-work-to-do-on-policy/) — ForexLive
- [Trump administration is hiring debt collectors to go after defaulted student-loan borrowers for first time in 6 years](https://www.marketwatch.com/story/trump-administration-is-hiring-debt-collectors-for-first-time-in-6-years-to-go-after-defaulted-student-loan-borrowers-8bae13ad?mod=mw_rss_topstories) — MarketWatch

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