Defiance Daily Target 2X Long IREN ETF is trading at $26.81 (+4.20%) as it captures a rebound in IREN following a sharp three-day decline triggered by the May jobs report.
- The move is a recovery from a selloff tied to higher-rate fears, which the ETF is designed to amplify by 2x the daily performance of IREN.
- Broader risk assets remain sensitive to a macro backdrop of rising Treasury yields and a stronger dollar, which continue to pressure growth-linked names.
- With a quiet economic calendar today, market focus remains centered on the implications of last week's stronger-than-expected labor data and tighter Fed expectations.