“The price of light is less than the cost of darkness.”
A bubble is a product of feedback from positive price changes that create a ‘new era’ ambiance in which people think increasingly that prices will go up forever…Today’s bond market…is just the opposite of a new-era ambiance. Instead, the demand for bonds is driven by an underlying angst about the slow recovery and pessimism of the future…that’s not a…
A brief review of recent 10-year treasury yield levels from January of 2016 to the present –
10-year treasury yields hovered around 2.0% for the entire month.
February to early November
10-year treasury yields spent this 9-month period under 2.0%. In early July the 10-year hit a low of 1.37%.
November 8th – Election Day
10-year treasury closed that day at a…