A US treasury yield curve trend change appears to be underway. The move has strong implications in a number of ways.
The 30-year long bond yield for this move peaked on March 18 at 2.45%. The 10-year yield peaked on March 31 at 1.74%, barely beating 1.73% on March 19.
It’s not the news that matters, it’s the market’s reaction to it.
Yields had been inching lower. Then last Thursday there was a sudden large drop in yields on the 30- 10- and 5-year treasury yields.