TNA is trading at $62.78 (-2.03%) as the 10-year Treasury yield reaches 5.02%, increasing financing pressure on rate-sensitive small-cap companies, with TNA falling alongside the Russell 2000.

  • Reuters reports that higher yields have recently pushed small-cap stocks more than 5% below their mid-August record high.
  • Investors are positioning ahead of the September 15–16 Federal Reserve meeting, with markets assigning roughly a 90% probability to a quarter-point hike.
  • Elevated oil prices near $107 reinforce inflation and higher-for-longer rate concerns.