TLT Down by 5.5% Since July 25

For those who still like to think of US Treasury bonds as risk free, below is a reminder that duration on the long end of the curve can lead to equity like returns both on the up-side and the down-side.  TLT, the long bond ETF is down 5.5% since 15 days ago.  It's still up 2.5% ytd (excluding dividends), but the 30 year bond has only moved from a ~2.5% to  ~2.8% yield.