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Eric Cantor’s financial disclosures reveal that he bets against U.S. Treasury bonds. | ThinkProgress
[Cantor], the Republican whip in the House of Representatives, bought up to $15,000 in shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, according to his 2009 financial disclosure statement. The exchange-traded fund takes a short position in long-dated government bonds. In effect, it is a bet against U.S. government bonds and perhaps on inflation in the future.
If Cantor truly cares about Americas prosperity, one would have to wonder why he is literally betting against its financial future. The Washington Independents Annie Lowrey adds that Cantor is not a very canny investor. The fund is down 31 percent this year.
[Cantor], the Republican whip in the House of Representatives, bought up to $15,000 in shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, according to his 2009 financial disclosure statement. The exchange-traded fund takes a short position in long-dated government bonds. In effect, it is a bet against U.S. government bonds and perhaps on inflation in the future.
If Cantor truly cares about Americas prosperity, one would have to wonder why he is literally betting against its financial future. The Washington Independents Annie Lowrey adds that Cantor is not a very canny investor. The fund is down 31 percent this year.