iPath US Treasury Long Bond Bear ETN
DLBS
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Aug 9, 2010
- Similar Companies
- Business
- iPath US Treasury Long Bond Bear ETN (DLBS) is an exchange-traded note issued by Barclays Bank PLC that provides investors with inverse exposure to the Barclays Long Bond US Treasury Futures Targeted Exposure Index; this index tracks futures contracts on long-term US Treasury bonds, enabling returns from increases in long bond yields and declines in bond prices. The ETN offers a leveraged bearish strategy on the US Treasury long bond futures market segment, targeting sophisticated investors and traders seeking to hedge interest rate risk or speculate on rising yields; it trades on the BATS exchange under the ticker DLBS. Barclays Bank PLC, founded in 1690 and headquartered in London, United Kingdom, structures and issues the iPath series of ETNs as part of its broader investment banking and capital markets operations, which span global financial markets including North America and Europe. The ETN's core offering focuses solely on the inverse performance of the specified long bond futures index, with no additional product variants, brands, or related services; daily indicative values are calculated based on index levels, minus fees, providing targeted exposure without direct futures trading. Target customers include institutional investors, hedge funds, and retail traders accessing it through brokerage accounts on US exchanges. In recent major changes, Barclays temporarily suspended further issuances and sales of DLBS in March 2020 amid market volatility and low liquidity, leading to trading suspensions and delisting proceedings by CBOE; this followed declines in outstanding principal below exchange minimums and elevated trading premiums. Earlier announcements in 2020 confirmed delisting of DLBS alongside related Treasury bear ETNs, shifting operations to over-the-counter trading while preserving holder redemption rights with Barclays. As of late 2025, DLBS continues to appear in select trading platforms with reported prices and volumes, though Barclays has executed multiple issuer call redemptions and tender offers across its iPath ETN portfolio, including four series in June 2025, reflecting ongoing portfolio streamlining without specific confirmation of DLBS redemption.