10Y Treasury yield 3.75%+
TreasuriesMulti
10Y Treasury yield ~3.75% support
Source: Schwab
10Y could test 4.5% at times
TreasuriesShort
10Y could move back to 4.5% periodically
Source: Schwab
10Y won't fall below 3.75%
TreasuryMulti
10Y Treasury risk-floor 3.75% Schwab
Source: Schwab
10Y yield 4.00-4.50% range 2026
TreasuryMulti
10Y Treasury 4.00-4.50% range 2026 base case
Source: MS
2s10s Flattener
Yield CurveCurve
Short 2y long 10y in DV01-neutral
Source: CME
2s10s Steepener
Yield CurveCurve
Long 2y short 10y in DV01-neutral
Source: CME
3 cuts late 2025 already
TreasuriesMulti
Fed delivered 3x 25bp cuts late 2025
Source: encyclopedia
5s30s Flattener
Yield CurveCurve
Short 5y long 30y
Source: CME
5s30s Steepener
Yield CurveCurve
Long 5y short 30y in DV01-neutral
Source: CME
AAA Muni 175bps better Tres
MunisLong
AAA muni TEY 175bps better than Treasuries
Source: Raymond
ABS Long
SecuritizedCarry
Long auto/credit-card ABS
Source: CFA
AGG iShares Core US Agg
AggregateLong
iShares AGG Core US Aggregate
Source: encyclopedia
AGG iShares Core US Aggregate
AggregateLong
AGG iShares Core US Aggregate Bond ETF
Source: encyclopedia
Active mgr alpha
StrategyLong
Active mgr alpha vs index
Source: Fidelity
Agency MBS
MBSCarry
Hold agency MBS for spread
Source: CFA
Agency MBS outperform Tres
MBSLong
Agency MBS expected outperform Tres 2026
Source: LPL
Asset Swap Trade
Relative ValueArb
Hold bond financed by swap = asset swap spread
Source: Banks
Auction Trade (UST)
MacroVol
Trade UST auction tail/stop-through
Source: Banks
BIL SPDR 1-3 Mo T-Bill
TreasuryLong
BIL SPDR Bloomberg 1-3 Month T-Bill ETF
Source: encyclopedia
BIL SPDR Bloomberg 1-3M T-Bill
TreasuriesLong
SPDR BIL 1-3M T-Bill
Source: encyclopedia
BKLN Invesco Senior Loan
HYMulti
BKLN Invesco Senior Loan ETF floating rate
Source: encyclopedia
BKLN Invesco Sr Loan
Leveraged LoansIncome
Invesco BKLN Senior Loan ETF
Source: encyclopedia
BND Vanguard Total Bond
AggregateLong
BND Vanguard Total Bond Market ETF
Source: encyclopedia
BND Vanguard Total Bond Mkt
AggregateLong
Vanguard BND Total Bond Market
Source: encyclopedia
BNDX Vanguard Total Intl
IntlLong
BNDX Vanguard Total International Bond ETF
Source: encyclopedia
BNDX Vanguard Total Intl Bond
Global BondsMulti
Vanguard BNDX Total Intl USD-hedged
Source: encyclopedia
BWX SPDR Intl Treasury
Global BondsMulti
SPDR BWX Intl Treasury ex-US
Source: encyclopedia
Bank loans LSTA leveraged
HYMulti
Morningstar LSTA US Leveraged Loan 100 Index
Source: Schwab
Barbell Strategy
Yield CurveMaturity
Short + long maturities; convexity advantage
Source: Public
Barbell short + long
StrategyMulti
Barbell short + long-term bonds
Source: encyclopedia
Barbell strategy
StrategyLong
Barbell strategy short + long maturities
Source: encyclopedia
Basis Swap (LIBOR/SOFR/Tenor)
SwapsBasis
Trade basis between rates
Source: Banks
Bear Flattener
Yield CurveCurve
Short rates rise more than long
Source: CFA
Bear Steepener
Yield CurveCurve
Long rates rise more than short
Source: CFA
Belly of curve favored
IndustryLong
Out to 5-yr maturity preferred
Source: LPL
Big issuance pressure
TreasuriesShort
Large rising fiscal deficits issuance pressure
Source: Schwab
Bills T-Bill < 1Y
TreasuriesMulti
T-Bills < 1Y maturity
Source: encyclopedia
Bloomberg Global Agg ex-USD
Global BondsMulti
Bloomberg Global Agg ex-USD
Source: Schwab
Bloomberg HY Corp Index
HY CorpMulti
Bloomberg HY Corp Bond Index
Source: Schwab
Bloomberg US Agg YTW 4.3%
AggregateMulti
Bloomberg US Agg YTW 4.3% duration 6Y Dec 2025
Source: Schwab
Bond Carry Trade
CarryCarry
Hold positive-carry positions
Source: Public
Bond Pairs (Issuer vs Issuer)
Relative ValueStat Arb
Trade similar bonds with spread
Source: Banks
Bond SMA Separately Managed
StrategyLong
Bond Separately Managed Account customized
Source: Fidelity
Bond ladder
StrategyLong
Bond ladder spread maturities for income
Source: encyclopedia
Bond ladder maturities
StrategyIncome
Bond ladder rolling maturities
Source: encyclopedia
Bonds 20Y-30Y
TreasuriesMulti
Treasury Bonds 20Y + 30Y
Source: encyclopedia
Breakeven Inflation Trade
InflationMacro
Long TIPS short nominals = long BEI
Source: CFA
Build America Bonds BABs
MunisMulti
Build America Bonds BABs taxable muni
Source: encyclopedia
Bull Flattener
Yield CurveCurve
Long rates fall more than short
Source: CFA
Bull Steepener
Yield CurveCurve
Short rates fall more than long
Source: CFA
Bullet Strategy
Yield CurveMaturity
Concentrate maturities at one point
Source: Public
Bullet single maturity
StrategyMulti
Bullet single maturity strategy
Source: encyclopedia
Bullet strategy
StrategyMulti
Bullet strategy concentrated maturity
Source: encyclopedia
Bund German 10Y benchmark
IntlMulti
Bund German 10Y benchmark Eurozone safe
Source: encyclopedia
Butterfly (Curve)
Yield CurveCurvature
2-5-10 belly trade for curvature
Source: CME
Buy and Hold
Yield CurveIncome
Hold to maturity for income
Source: CFA
CDS Basis Trade (Bond - CDS)
CreditArb
Trade bond-CDS basis
Source: Banks
CDS Curve Trade
CreditCurve
Trade CDS curve steepening/flattening
Source: Banks
CDS Index Trade (CDX/iTraxx)
CreditMacro
Long/short CDX IG/HY or iTraxx
Source: Banks
CDS Long Protection (Hedge)
CreditHedge
Buy single-name CDS protection
Source: Banks
CDS Short Protection (Sell)
CreditCarry
Sell CDS for spread income
Source: Banks
CLO Equity / Mezzanine
SecuritizedYield
Long CLO tranches
Source: Banks
CLO collateralized loan oblig
CLOsMulti
CLO collateralized loan obligation
Source: encyclopedia
CLOA BlackRock AAA CLO
CLOsLong
BlackRock CLOA AAA CLO
Source: encyclopedia
CMBS Long
SecuritizedCarry
Long commercial MBS
Source: CFA
CPI Print Trade (Bond)
MacroVolatility
Trade rates on CPI release
Source: Public
CV-bond hybrid debt+equity
ConvertiblesMulti
Convertible bond hybrid debt+equity warrant
Source: encyclopedia
CWB SPDR Bloomberg Convertible
ConvertiblesMulti
CWB SPDR Bloomberg Convertible Securities ETF
Source: encyclopedia
CWB SPDR Convertible
ConvertiblesMulti
SPDR CWB Bloomberg Convertible
Source: encyclopedia
Cap/Floor Strategies
VolatilityVol
Long caps/floors for rate cap protection
Source: Banks
Capital Structure Arb (Equity vs Debt)
CreditArb
Long debt short equity or reverse
Source: Hedge funds
Carry trade FX-bond
StrategyMulti
Carry trade borrow low + lend high
Source: encyclopedia
Cat Bond
SecuritizedInsurance
Long cat bonds for diversification
Source: Public
Cautious HY + leveraged loans
IndustryMulti
Cautious approach HY + leveraged loans
Source: LPL
Cheapest-to-Deliver (CTD) Switch
RepoCTD
Trade CTD changes in TY/UB
Source: Banks
Convertible Arbitrage
CreditArb
Long convertible short stock delta
Source: Hedge funds
Convertible Capital Structure Arb
CreditArb
Trade converts vs senior debt
Source: Hedge funds
Convertible bonds hybrid
ConvertiblesMulti
Convertible bonds equity-bond hybrid
Source: encyclopedia
Convexity Trade
DurationConvexity
Long convex barbell
Source: Public
Convexity hedging
StrategyMulti
Convexity hedging MBS-like reset
Source: encyclopedia
Credit Spread Tightening Trade
CreditDirection
Long credit when spreads tighten
Source: CFA
Credit Spread Widening Hedge
CreditHedge
Buy CDS protection on widening
Source: CFA
Cross-Currency Basis Swap
SwapsBasis
Trade FX basis swap
Source: Banks
Cross-Currency Bond Carry
CarryCarry
Long higher-yielder hedge FX
Source: CFA
Curve Carry + Roll-Down
Relative ValueCarry
Combine curve carry with roll-down
Source: CFA
Curve flattener trade
StrategyMulti
Curve flattener short short + long long maturity
Source: encyclopedia
Curve steepener trade
StrategyLong
Curve steepener long short + short long maturity
Source: encyclopedia
DV01-Neutral Curve Trade
Yield CurveCurve
Curve trades hedged for parallel shift
Source: CME
Distressed Debt Trade
CreditDistressed
Buy distressed debt at deep discount
Source: Howard Marks
Distressed for Control (Loan-to-Own)
CreditDistressed
Buy debt to convert to equity
Source: Distressed funds
Duration matching
StrategyLong
Duration matching match liability duration
Source: encyclopedia
EM Local Currency Bonds
CreditCarry
Long EM local-currency bonds
Source: CFA
EM Sovereign Bonds
CreditCarry
Long EM sovereign bonds
Source: CFA
EM USD Aggregate Bloomberg
EM BondsMulti
Bloomberg EM USD Aggregate Bond
Source: Schwab
EMB iShares EM USD Bond
EMMulti
EMB iShares JP Morgan USD EM Bond ETF
Source: encyclopedia
EMB iShares JPM EM Bond
EM BondsLong
iShares EMB JPM USD EM Bond
Source: encyclopedia
EMLC VanEck EM Local
EM BondsMulti
VanEck EMLC EM Local Currency
Source: encyclopedia
EMLC VanEck EM Local Currency
EMMulti
EMLC VanEck JP Morgan EM Local Currency
Source: encyclopedia
FBND Fidelity Total Bond
Active ETFsLong
Fidelity FBND Total Bond ETF
Source: encyclopedia
FFRHX Fidelity Floating Rate
Leveraged LoansIncome
Fidelity FFRHX Floating Rate HY
Source: encyclopedia
FLOT iShares Floating Rate
FloatersLong
FLOT iShares Floating Rate Bond ETF
Source: encyclopedia
FOMC Trade (Bond)
MacroVolatility
Trade Treasury into FOMC
Source: Public
FPE First Trust Preferred
PreferredsMulti
FPE First Trust Preferred Securities & Income
Source: encyclopedia
FRA BlackRock Floating Rate
HYMulti
FRA BlackRock Floating Rate Income Strategies CEF
Source: encyclopedia
FRAs (Forward Rate Agreement)
SwapsDirection
Trade short-term forward rates
Source: Banks
FRN Invesco Floating EM
FloatersMulti
FRN Invesco Senior Loan + EM Floating
Source: encyclopedia
Fallen Angel Trade
CreditEvent
Buy fallen angels at forced selling
Source: Public
Fed cuts continue 2026
IndustryLong
Fed cuts expected continue 2026
Source: Fidelity
Fed expected 2-3 cuts 2026
TreasuryMulti
Fed 2-3 rate cuts 2026 base case Schwab
Source: Schwab
Fed funds 3.50-3.75%
TreasuriesMulti
Fed funds target 3.50-3.75%
Source: encyclopedia
First Brands BK 2025
HYShort
First Brands bankruptcy 2025 weak underwriting
Source: Cambridge
Forward Guidance Trade
MacroDirection
Trade based on Fed forward guidance
Source: Public
Future-Cash Basis Trade
RepoArb
Trade futures vs cash basis
Source: Banks
GO bonds general obligation
MunisLong
GO bonds general obligation full faith
Source: InvGrade
GOVT iShares US Treasury
TreasuriesMulti
iShares GOVT US Treasury all maturities
Source: encyclopedia
GOVT iShares US Treasury Bond
TreasuryLong
GOVT iShares US Treasury Bond ETF
Source: encyclopedia
Gilts UK 10Y
IntlMulti
Gilts UK 10Y benchmark
Source: encyclopedia
HY Long-Only
CreditIncome
Long high-yield bonds
Source: CFA
HY Muni more cautious sectors
MunisShort
HY muni cautious tobacco/higher ed/transit
Source: American
HY corporate default rate >muni
HYMulti
HY corp 5Y default 20% B-rated vs 12% muni
Source: 247WS
HY duration 2.84 years 2026
HYMulti
Bloomberg US HY Index duration 2.84Y Jan 2026
Source: LordAbbett
HY index 4 ratings: BB B CCC
HYLong
HY corp 3 ratings: BB B CCC
Source: StreetStats
HYD VanEck HY Muni
MunisLong
VanEck HYD HY Muni
Source: encyclopedia
HYG iShares iBoxx HY
HY CorpMulti
iShares HYG HY corp ETF
Source: encyclopedia
HYG iShares iBoxx HY Corp
HYMulti
HYG iShares iBoxx High Yield Corporate ETF
Source: encyclopedia
HYLB Xtrackers USD HY
HY CorpMulti
Xtrackers HYLB USD HY
Source: encyclopedia
HYMB SPDR HY Muni
MunisMulti
HYMB SPDR Nuveen Bloomberg High Yield Muni
Source: encyclopedia
HYMB SPDR Nuveen HY Muni
MunisLong
SPDR HYMB HY Muni
Source: encyclopedia
High starting yields attractive
IndustryLong
High starting yields attractive 2026
Source: Fidelity
High-Yield Muni Strategy
MunisIncome
Long high-yield muni bonds
Source: Public
IAGG iShares Intl Aggregate
IntlLong
IAGG iShares Core International Aggregate Bond
Source: encyclopedia
ICVT iShares Convertible
ConvertiblesMulti
iShares ICVT Bloomberg Convertible
Source: encyclopedia
ICVT iShares Convertible Bond
ConvertiblesMulti
ICVT iShares Convertible Bond ETF
Source: encyclopedia
IEF 7-10Y Treasuries
TreasuriesMulti
iShares IEF 7-10Y Treasuries
Source: encyclopedia
IEF iShares 7-10 Yr Treasury
TreasuryLong
IEF iShares 7-10 Year Treasury ETF
Source: encyclopedia
IEI iShares 3-7 Yr Treasury
TreasuryLong
IEI iShares 3-7 Year Treasury ETF
Source: encyclopedia
IG Long-Only
CreditIncome
Long investment grade for credit spread
Source: CFA
IG Muni Bloomberg index
MunisMulti
Bloomberg IG Muni Bond Index
Source: Schwab
IG corp tighter spreads risk
IG CorpShort
IG corp spreads near all-time lows
Source: Schwab
IG vs HY Switching
CreditAllocation
Rotate IG/HY by credit cycle
Source: Public
IG yields ~5% intermediate
IG CorpLong
IG intermediate-term yields ~5% 2025-26 starting
Source: Schwab
IG/MBS outperform Treasuries
IndustryLong
IG corp + agency MBS outperform Treasuries
Source: LPL
IGIB iShares 5-10Y IG
IG CorpMulti
iShares IGIB 5-10Y IG corp
Source: encyclopedia
IGOV iShares Intl Treasury
Global BondsMulti
iShares IGOV Intl Treasury
Source: encyclopedia
IGSB iShares 1-5Y IG
IG CorpMulti
iShares IGSB 1-5Y IG corp
Source: encyclopedia
IGSB iShares Short IG Corp
IG CorpLong
IGSB iShares 1-5 Year IG Corporate ETF
Source: encyclopedia
IO/PO Strips
MBSVol
Trade interest-only or principal-only
Source: Banks
IUSB iShares Core Total USD
AggregateMulti
iShares IUSB Core Total USD
Source: encyclopedia
Index Inclusion (Bond)
CreditEvent
Long bonds entering major indices
Source: Public
Inflation Caps/Floors
InflationHedge
Hedge inflation tail risk
Source: Banks
Inflation Swap (ZC)
InflationHedge
Trade zero-coupon inflation swap
Source: Banks
Inflation-Linked Bond Curve
Relative ValueCurve
Trade real-rate curve
Source: Banks
Inversion Trade
Yield CurveMacro
Reduce equity / add duration on inversion
Source: Public
JAAA Janus Hend AAA CLO
CLOsLong
Janus Henderson JAAA AAA CLO
Source: encyclopedia
JBBB Janus BBB CLO
CLOsMulti
Janus Henderson JBBB BBB CLO
Source: encyclopedia
JEPI Defensive Income
Active ETFsIncome
JPMorgan JEPI Equity Premium Income
Source: encyclopedia
JGB Japanese 10Y
IntlMulti
Japanese Government Bond JGB 10Y
Source: encyclopedia
JNK SPDR Bloomberg HY
HYMulti
JNK SPDR Bloomberg High Yield Bond ETF
Source: encyclopedia
JNK SPDR HY Bond
HY CorpMulti
SPDR JNK Bloomberg HY Bond
Source: encyclopedia
JPST JPM Ultra-ST Munis
Active ETFsIncome
JPMorgan JPST Ultra-Short Income
Source: encyclopedia
Junk bonds spreads tight
HY CorpShort
HY bond spreads near tight historical levels
Source: Schwab
LDI (Liability-Driven Investment)
SpecificHedge
Match pension liability cash flows
Source: CFA
LQD iShares IG Corporate
IG CorpLong
LQD iShares iBoxx Investment Grade Corporate ETF
Source: encyclopedia
LQD iShares iBoxx IG
IG CorpMulti
iShares LQD iBoxx IG corp
Source: encyclopedia
LTPZ PIMCO 15+ Yr TIPS
TIPSMulti
LTPZ PIMCO 15+ Year US TIPS Index
Source: encyclopedia
Ladder Strategy
Yield CurveMaturity
Equal weight across multiple maturities
Source: Public
Long Duration (Rates Falling)
DurationDirection
Long long-duration bonds
Source: CFA
Long Vol via Swaptions
VolatilityVol
Long swaption vol
Source: Banks
MBB iShares MBS
MBSMulti
iShares MBB MBS ETF
Source: encyclopedia
MBB iShares MBS
MBSLong
MBB iShares MBS ETF agency MBS
Source: encyclopedia
MBS current coupon 4.9% > IG corp
MBSLong
MBS current coupon 4.9% > IG corp 4.8% Cambridge
Source: Cambridge
MBS outperformed corp 62% time 2Y
MBSLong
MBS current coupons outperform corp 62% 2Y
Source: Cambridge
MOVE Index Hedge
VolatilityHedge
Hedge bond portfolio with MOVE-like vol
Source: Banks
MUB iShares Muni
MunisMulti
iShares MUB National Muni
Source: encyclopedia
MUB iShares National Muni
MunisLong
MUB iShares National Muni Bond ETF
Source: encyclopedia
Mean Reversion in Curve Spreads
Relative ValueStat Arb
Trade mean revert in 2s10s/5s30s
Source: Public
Money market $7.6-8.3T record
IndustryLong
Money market balances $7.6-8.3T record 2026
Source: Raymond
Mortgage Basis Trade
MBSArb
Trade MBS-Treasury OAS
Source: Banks
Muni 30Y beats 30Y Tsy 229bps TEY
MunisLong
Muni 30Y TEY beats Tsy 229bps top bracket
Source: InvGrade
Muni HY yield 5.5%+ TEY ~9-10%
MunisLong
Bloomberg HY Muni Index 5.5%+ TEY ~10%
Source: LordAbbett
Muni S&P 500 corr 0.222 low
MunisLong
Muni-S&P 500 correlation 0.222 low
Source: Morgan
Muni TEY ~7.17% top bracket 30Y
MunisLong
30Y AAA muni 4.25% TEY 7.17% at 40.8% top bracket
Source: InvGrade
Muni active ETFs $8.7B inflows
MunisLong
Muni active ETFs $8.7B inflows 2025
Source: American
Muni issuance $580B 2025
MunisMulti
Muni bond issuance topped $580B 2025
Source: American
Muni issuance record 2025+2026
MunisMulti
Record muni issuance 2025-26 OBBBA pulled forward
Source: MS
Muni recovery 66c default
MunisLong
Munis 66c recovery on default vs 42c corp
Source: InvGrade
Muni-Treasury Spread
MunisMacro
Trade muni-Treasury yield spread
Source: Banks
Negative Convexity (MBS)
DurationRisk
Trade negative convexity in MBS
Source: Public
Negative Convexity Hedge
MBSHedge
Hedge MBS negative convexity with options
Source: Banks
Neutral duration recommended
IndustryLong
Maintain neutral duration recommended
Source: LPL
New Issue Concession
Relative ValueIssuance
Trade new-issue concession
Source: Banks
Notes 2Y-10Y
TreasuriesMulti
Treasury Notes 2Y to 10Y
Source: encyclopedia
OIS Trade
SwapsFunding
Trade OIS / overnight indexed swap
Source: Banks
On-the-Run Auction Cycle
Relative ValueMicrostructure
Trade WI vs OTR around auctions
Source: Banks
On-the-Run vs Off-the-Run
Relative ValueLiquidity
Trade liquidity premium of OTR vs OTF
Source: LTCM
Operation Twist Trade
MacroCurve
Long-end buying causes flattening
Source: Fed history
PCMM BondBloxx Private Credit
CLOsMulti
BondBloxx PCMM Private Credit CLO
Source: BondBloxx
PFF iShares Preferred
PreferredIncome
iShares PFF Preferred Stock
Source: encyclopedia
PFF iShares Preferred Income
PreferredsMulti
PFF iShares Preferred & Income Securities ETF
Source: encyclopedia
PFFD Global X US Preferred
PreferredIncome
Global X PFFD Preferred
Source: encyclopedia
PGF Invesco Financial Pref
PreferredsMulti
PGF Invesco Financial Preferred ETF
Source: encyclopedia
PGX Invesco Preferred
PreferredIncome
Invesco PGX Preferred
Source: encyclopedia
PGX Invesco Preferred
PreferredsMulti
PGX Invesco Preferred ETF
Source: encyclopedia
Pay Fixed Receive Floating
SwapsDirection
Pay fixed = short duration
Source: CFA
Payrolls Trade (Bond)
MacroVolatility
Trade rates on NFP
Source: Public
Preferred = senior to common
PreferredsMulti
Preferred stock senior to common debt-like
Source: encyclopedia
Preferred shares hybrid
PreferredIncome
Preferred shares hybrid debt-equity
Source: encyclopedia
QE Anticipation Trade
MacroMacro
Long bonds ahead of QE
Source: Public
QT Anticipation Trade
MacroMacro
Short bonds ahead of QT
Source: Public
Real Yield Trade
InflationMacro
Trade real yield levels
Source: CFA
Realized vs Implied Vol Bond
VolatilityVol
Compare realized to implied vol
Source: Banks
Receive Fixed Pay Floating
SwapsDirection
Receive fixed = long duration
Source: CFA
Repo Financing Carry
CarryFunding
Lever bond with repo financing
Source: Banks
Revenue bonds revenue-backed
MunisMulti
Revenue bonds project-backed muni
Source: InvGrade
Riding the Yield Curve (Roll Down)
Yield CurveCarry
Hold longer maturity buy curve roll down
Source: CFA
Rising Star Trade
CreditEvent
Long bonds about to upgrade
Source: Public
Roll down yield curve
StrategyLong
Roll down yield curve strategy
Source: encyclopedia
Roll-down strategy
StrategyLong
Roll-down ride yield curve as bond ages
Source: encyclopedia
SCHO Schwab Short Treasury
TreasuryLong
SCHO Schwab Short-Term US Treasury ETF
Source: encyclopedia
SCHP Schwab US TIPS
TIPSLong
Schwab SCHP US TIPS
Source: encyclopedia
SCHP Schwab US TIPS
TIPSLong
SCHP Schwab US TIPS ETF
Source: encyclopedia
SCHZ Schwab US Agg
AggregateLong
Schwab SCHZ US Aggregate
Source: encyclopedia
SCHZ Schwab US Aggregate
AggregateLong
SCHZ Schwab US Aggregate Bond ETF
Source: encyclopedia
SGOV iShares 0-3 Mo Treasury
TreasuryLong
SGOV iShares 0-3 Month Treasury
Source: encyclopedia
SHV iShares Short Treasury
TreasuriesMulti
iShares SHV Short Treasury <1Y
Source: encyclopedia
SHY 1-3Y short Treasuries
TreasuriesLong
iShares SHY 1-3Y Treasuries
Source: encyclopedia
SHY iShares 1-3 Yr Treasury
TreasuryLong
SHY iShares 1-3 Year Treasury Bond ETF
Source: encyclopedia
SHYG iShares 0-5 Yr HY Corp
HYMulti
SHYG iShares 0-5 Year High Yield Corporate ETF
Source: encyclopedia
SJNK SPDR ST HY
HY CorpMulti
SPDR SJNK Short HY
Source: encyclopedia
SLQD iShares 0-5Y IG
IG CorpMulti
iShares SLQD 0-5Y IG
Source: encyclopedia
SRLN SPDR Sr Loan
Leveraged LoansIncome
SPDR SRLN Blackstone Sr Loan
Source: encyclopedia
SRLN SPDR Sr Loan
HYMulti
SRLN SPDR Blackstone Sr Loan ETF
Source: encyclopedia
SUB iShares ST Muni
MunisMulti
iShares SUB Short-Term Muni
Source: encyclopedia
SUB iShares Short-Term Muni
MunisLong
SUB iShares Short-Term National Muni ETF
Source: encyclopedia
Senior loans floating rate
Leveraged LoansMulti
Senior loans floating rate above LIBOR/SOFR
Source: encyclopedia
Short Duration (Rates Rising)
DurationDirection
Short long-duration bonds
Source: CFA
Short Vol via Swaptions
VolatilityVol carry
Short swaption vol carry
Source: Banks
Single-state Cali NY ETFs
MunisLong
iShares CMF California Muni
Source: encyclopedia
Sovereign Crisis Trade (PIIGS)
MacroMacro
Long Bunds short PIIGS in crisis
Source: Banks
Specials Trade
RepoFunding
Trade specialness in repo
Source: Banks
Specified Pool Trade
MBSMicrostructure
Trade pools by prepayment characteristics
Source: Banks
Spreads tight Q1 2026
IG CorpMulti
IG corporate bond spreads tight historically
Source: BondBloxx
State GO ratings none defaulted
MunisLong
Moody's no rated state GO ever defaulted
Source: InvGrade
Stock-bond correlation eroded
IndustryMulti
Stock-bond inverse correlation eroded recently
Source: Fidelity
Swap Spread Trade
Relative ValueSpread
Trade swap-Treasury spread
Source: Banks
Swaption Long Payer (Hedge)
SwapsVol
Long payer swaption to hedge rate up
Source: Banks
Swaption Long Receiver
SwapsVol
Long receiver swaption to hedge rate down
Source: Banks
Swaption Vol Carry
SwapsVol
Sell swaption vol for premium
Source: Banks
T-Bills 4-13-26-52 weeks
TreasuryLong
US Treasury Bills 4/13/26/52 weeks short-duration
Source: encyclopedia
T-Bonds 20/30 year long
TreasuryLong
US Treasury Bonds 20/30 year long-duration
Source: encyclopedia
T-Notes 2/3/5/7/10 yr
TreasuryLong
US Treasury Notes 2/3/5/7/10 year intermediate
Source: encyclopedia
TFI SPDR Muni
MunisMulti
SPDR TFI Nuveen Muni Income
Source: encyclopedia
TFI SPDR Nuveen Bloomberg Muni
MunisLong
TFI SPDR Nuveen Bloomberg Municipal Bond ETF
Source: encyclopedia
TFLO iShares Treasury Float
FloatersLong
TFLO iShares Treasury Floating Rate Bond ETF
Source: encyclopedia
TIP iShares 0-3Y TIPS
TIPSLong
iShares TIP 0+Y TIPS ETF
Source: encyclopedia
TIP iShares TIPS
TIPSLong
TIP iShares TIPS Bond ETF
Source: encyclopedia
TIPS Long
InflationHedge
Long TIPS in inflation regime
Source: CFA
TIPS breakeven inflation
TIPSMulti
TIPS breakeven = nominal 10Y - real 10Y
Source: encyclopedia
TIPS inflation-protected
TIPSLong
Treasury Inflation-Protected Securities TIPS
Source: encyclopedia
TIPS principal CPI-adjusted
TIPSLong
TIPS principal adjusts with CPI semi-annual
Source: encyclopedia
TLH iShares 10-20 Yr Treasury
TreasuryMulti
TLH iShares 10-20 Year Treasury Bond ETF
Source: encyclopedia
TLT 20+Y Treasuries
TreasuriesMulti
iShares TLT 20+Y Treasuries
Source: encyclopedia
TLT iShares 20+ Yr Treasury
TreasuryMulti
TLT iShares 20+ Year Treasury Bond ETF duration
Source: encyclopedia
TOTL DoubleLine Total Return
Active ETFsLong
SPDR TOTL DoubleLine Total Return
Source: encyclopedia
Tax-Exempt Muni Hold
MunisIncome
Hold munis for tax-free income
Source: CFA
Tax-exemption preserved
MunisLong
Muni tax exemption preserved
Source: American
Tax-loss harvesting bonds
StrategyLong
Tax-loss harvesting in bond portfolios
Source: encyclopedia
Tenor-Switch Trade
Relative ValueCurve
Switch between specific bond tenors
Source: Banks
Tesla MSTR convert issuance
ConvertiblesLong
Convertible issuance MSTR Tesla growth tech
Source: encyclopedia
Tight credit spreads risk
IndustryShort
Credit spreads near all-time lows
Source: Schwab
Top bracket 35-37% federal 2026
MunisMulti
Top bracket 37% federal 2026 +3.8% NIIT 40.8%
Source: 247WS
Treasury Direct buy individuals
TreasuriesMulti
TreasuryDirect.gov individual purchase
Source: encyclopedia
Tricolor BK 2025
HYShort
Tricolor bankruptcy 2025 weak underwriting
Source: Cambridge
US Aggregate Bond Bloomberg
AggregateLong
Bloomberg US Aggregate Bond Index
Source: Schwab
USFR WisdomTree Floating Rate
FloatersLong
USFR WisdomTree Floating Rate Treasury
Source: encyclopedia
USHY iShares Broad USD HY
HY CorpMulti
iShares USHY Broad USD HY
Source: encyclopedia
USHY iShares Broad USD HY
HYMulti
USHY iShares Broad USD High Yield Corporate ETF
Source: encyclopedia
USIG iShares Broad IG Corp
IG CorpLong
USIG iShares Broad USD IG Corporate ETF
Source: encyclopedia
VCIT Vanguard IT IG
IG CorpMulti
Vanguard VCIT Intermediate IG
Source: encyclopedia
VCIT Vanguard Inter Corp
IG CorpLong
VCIT Vanguard Intermediate Corp Bond ETF
Source: encyclopedia
VCLT Vanguard LT IG
IG CorpMulti
Vanguard VCLT Long-Term IG
Source: encyclopedia
VCLT Vanguard Long Corp
IG CorpMulti
VCLT Vanguard Long-Term Corporate Bond ETF
Source: encyclopedia
VCSH Vanguard ST IG
IG CorpMulti
Vanguard VCSH Short IG corp
Source: encyclopedia
VCSH Vanguard Short Corp
IG CorpLong
VCSH Vanguard Short-Term Corporate Bond ETF
Source: encyclopedia
VGIT Vanguard Intermediate Tres
TreasuriesMulti
Vanguard VGIT Intermediate Treasury
Source: encyclopedia
VGLT Vanguard Long Treasury
TreasuryMulti
VGLT Vanguard Long-Term Treasury ETF
Source: encyclopedia
VGSH Vanguard Short Treasury
TreasuryLong
VGSH Vanguard Short-Term Treasury ETF
Source: encyclopedia
VMBS Vanguard MBS
MBSMulti
Vanguard VMBS Mortgage-Backed
Source: encyclopedia
VMBS Vanguard MBS
MBSLong
VMBS Vanguard Mortgage-Backed Securities ETF
Source: encyclopedia
VTEB Vanguard Tax-Exempt
MunisLong
Vanguard VTEB Tax-Exempt Bond
Source: encyclopedia
VTEB Vanguard Tax-Exempt
MunisLong
VTEB Vanguard Tax-Exempt Bond ETF
Source: encyclopedia
VTIP Vanguard ST TIPS
TIPSLong
Vanguard VTIP Short-Term TIPS
Source: encyclopedia
VTIP Vanguard Short TIPS
TIPSLong
VTIP Vanguard Short-Term Inflation-Protected
Source: encyclopedia
VWOB Vanguard EM Gov
EM BondsMulti
Vanguard VWOB EM Gov Bond
Source: encyclopedia
VWOB Vanguard EM Govt Bond
EMMulti
VWOB Vanguard EM Govt Bond ETF
Source: encyclopedia
Vol Surface Trade (Swaption)
SwapsVol
Trade swaption vol skew
Source: Banks
Volatility Surface Curve Trade
VolatilityVol
Trade swaption vol curve term
Source: Banks
Yield curve steepening 2026
TreasuryLong
Yield curve steepening short rates fall
Source: Schwab
Yield curve to steepen modestly
MunisLong
Muni yield curve will steepen 2026
Source: American
Z-Spread Arb
Relative ValueArb
Trade Z-spread anomalies
Source: Banks
An encyclopedia of publicly documented strategies for education. YCAI does not recommend, endorse, or trade any of these. Not investment advice.