⁍ Average one-month put-call ratio on the 20+ Year Treasury Bond ETF TLT.O stands near its highest level since the beginning of the year.

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⁍ bets stem from growing confidence that the nascent rebound in the U.S. economy will continue.

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– The Federal Reserve wraps up its two-day policy meeting today, and the central bank is expected to keep interest rates near zero as long as it takes to get the economy back on its feet, the Wall Street Journal reports. The Fed is also expected to announce a second round of bond purchases to keep interest rates low. But while the central bank is likely to keep rates near zero for a while, some investors are starting to worry that the recovery won’t be as strong as previously thought and that higher rates are in the offing, Reuters reports. “Everyone is convinced that interest rates will be anchored to zero for eternity,” says one investor. “But if we get a vaccine and everything’s heating up and it forces the Fed’s hand to raise the Fed funds rate, that’s going to spill over to the 10-year Treasury.”