He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish
Published . Updated .
Investors have become accustomed to returns distorted by artificially low interest rates. 5% on bonds and 6% on stocks are more realistic and Bianco finds value in U.S. Treasury notes now.
Directly affected
- BLSH Bullish
Named in this report.
Indirectly affected
- TLT iShares 20+ Year Treasury Bond
Long-term bonds move when yields change
- IEF iShares 7-10 Year Treasury Bond
Treasury bonds move when yields change
- SHY iShares 1-3 Year Treasury Bond
Short-term bonds move when the Fed changes rates
- SPY SPDR S&P 500
Stocks move when the Fed changes the rate path
- JPM JPMorgan Chase
Bank profits move with lending and interest rates
- BAC Bank of America
Bank profits move with lending and interest rates
- GS Goldman Sachs
Bank profits move with lending and interest rates
- XLF Financial Select Sector SPDR
A fund of financial companies
- KRE SPDR S&P Regional Banking
Regional banks are sensitive to interest rates
- EDV VANGUARD EXTENDED DURATION TREASURY ETF
GA selected EDV as a RELATED security because its canonical security name directly matches this event's themes: treasury. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article.
Price reaction, T-5 to T+3
Investors have become accustomed to returns distorted by artificially low interest rates. 5% on bonds and 6% on stocks are more realistic and Bianco finds value in U.S. Treasury notes now.
Source: MarketWatch
The price since 30 Sep 2026: Vanguard Extended Duration Treasury Etf (EDV) versus the S&P 500
Since the first closing price after “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish,” Vanguard Extended Duration Treasury Etf (EDV) is +3.83%. The S&P 500 fund (SPY) is +0.33% over the same days, a +3.50% difference versus the market.
Who gains and who loses around Vanguard Extended Duration Treasury Etf (EDV)
Companies mentioned with this story
- EDV Vanguard Extended Duration Treasury Etf
Vanguard Extended Duration Treasury Etf (EDV) is linked, with no stored direction, medium confidence in the 30 Sep 2026 story “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish.” Reason on file: GA selected EDV as a RELATED security because its canonical security name directly matches this event's themes: treasury. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- GOVZ Ishares 25 Year Treasury Strips Bond Etf
For “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish,” Ishares 25 Year Treasury Strips Bond Etf (GOVZ) is linked, with no stored direction, medium confidence. Reason on file: GA selected GOVZ as a RELATED security because its canonical security name directly matches this event's themes: treasury. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- AGGY Wisdomtree Yield Enhanced Us Bond Fund
In “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish,” Wisdomtree Yield Enhanced Us Bond Fund (AGGY) is linked, with no stored direction, medium confidence. Reason on file: GA selected AGGY as a RELATED security because its canonical security name directly matches this event's themes: yields. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- AOHY Angel Oak High Yield Opportunities Etf
In “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish,” Angel Oak High Yield Opportunities Etf (AOHY) is linked, with no stored direction, medium confidence. Reason on file: GA selected AOHY as a RELATED security because its canonical security name directly matches this event's themes: yields. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- BBLB Jpmorgan Betabuilders U.S. Treasury Bond 20 Year Etf
Jpmorgan Betabuilders U.S. Treasury Bond 20 Year Etf (BBLB) is linked, with no stored direction, medium confidence in the 30 Sep 2026 story “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish.” Reason on file: GA selected BBLB as a RELATED security because its canonical security name directly matches this event's themes: treasury. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
- BKHY Bny Mellon High Yield Etf
Bny Mellon High Yield Etf (BKHY) is linked, with no stored direction, medium confidence in the 30 Sep 2026 story “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish.” Reason on file: GA selected BKHY as a RELATED security because its canonical security name directly matches this event's themes: yields. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Vanguard Extended Duration Treasury Etf (EDV)
On 30 Sep 2026, “He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish” is the story that connects Vanguard Extended Duration Treasury Etf (EDV) to this story.
For Vanguard Extended Duration Treasury Etf (EDV), the reason on file says GA selected EDV as a RELATED security because its canonical security name directly matches this event's themes: treasury. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Ishares 25 Year Treasury Strips Bond Etf (GOVZ) is here too. Its reason reads: GA selected GOVZ as a RELATED security because its canonical security name directly matches this event's themes: treasury. This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
Price levels for Vanguard Extended Duration Treasury Etf (EDV)
AGGY traded between 41.03 and 42.30 across 20 sessions. The latest close on file is 41.56. EDV traded between 53.39 and 60.42 across 20 sessions. The latest close on file is 56.97. GOVZ traded between 29.90 and 33.87 across 20 sessions. The latest close on file is 32.20.
What the saved facts support for Vanguard Extended Duration Treasury Etf (EDV)
46 out of 100
“He’s been badmouthing Treasury bonds since 2020, but now ‘the big fat cushion’ of 5.25% yields is turning this strategist bullish” scores 46 out of 100. The score uses 1 sources, and 6 linked companies.