

Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. After forward calculation for surface deflections at specific points is made with known elastic properties. The algorithm uses SDUFEM finite element based backcalculation program in the iterative process and adopts backcalculating pavement layer moduli at fixed Poissons ratios.

All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. In this paper, a new algorithm for backcalculating pavement layer moduli from pavement deflection basin is presented. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. We did this by buying January 2023 TLT (long duration Treasury ETF) Puts with a strike of 140, giving us protection if long-term interest rates (+20yr) rise. View daily, weekly or monthly format back to when iShares 20+ Year Treasury Bond stock was issued. TLT 1/23 P140 was a hedge position we initiated in the quarter against rising interest rates given our exposure to some long duration stocks that could see headwinds from rate increases. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. Discover historical prices for TLT stock on Yahoo Finance. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally.
