---
title: "QUICK SPARK: iShares 20+ Year Treasury ETF TLT Hits Lowest Levels Since 2004"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/298620853.md"
description: "The iShares 20+ Year Treasury Bond ETF (TLT) dropped to $81.16, its lowest since May 2004, falling roughly 55% from its 2020 peak. This decline was driven by hot August PPI data at 5.4% year-over-year and President Trump's pledge of a $1.2 trillion unfunded dividend program. Consequently, the 10-year yield rose to 4.90% and the 30-year to 5.30%, erasing the post-2008 duration rally despite a recent Treasury buyback."
datetime: "2026-09-10T15:43:37.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/298620853.md)
  - [en](https://longbridge.com/en/news/298620853.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/298620853.md)
generator: "portal-rs"
---

# QUICK SPARK: iShares 20+ Year Treasury ETF TLT Hits Lowest Levels Since 2004

The **iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT)** fell 1.3% to $81.16 by 10:30 a.m. Thursday, its lowest level since May 2004, after August producer inflation ran at 5.4% year-over-year and pushed the 10-year yield to 4.90% and the 30-year to 5.30%.

The fund has now round-tripped more than two decades of price action, erasing the entire post-2008 duration rally. From its 2020 peak near $180, TLT is down roughly 55%.

Adding to the pressure, President **Donald Trump** pledged a $5,000 “dividend” to adult citizens Wednesday night in Dallas if Republicans hold both chambers in November. 

This commitment would cost the Treasury north of $1.2 trillion, with no funding mechanism, eligibility rules or timeline attached.

The Treasury executes a $6 billion buyback of off-the-run securities Thursday, but the size did little to ease the pressure on long-dated yields.

 **Read Also: Trump’s $5,000 Promise Carries a $1.23 Trillion Price Tag: Does the Treasury Have the Cash?** 

*Image: Shutterstock*

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**