Here’s why the VGLT and TLT ETFs could slump further soon

The Vanguard Long-Term Treasury ETF (VGLT) and iShares 20+ Year Treasury Bond (TLT) ETFs have significantly declined due to surging US Treasury yields, reaching two-year highs. TLT dropped over 14% to $86, while VGLT fell to $54.48. The rise in yields is attributed to strong economic data and inflation concerns, with the 30-year yield potentially rising to 5.17%. Both ETFs are expected to continue underperforming, with TLT's next support level at $84.7. Upcoming US nonfarm payroll data will be crucial for future trends.