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30Y Treasury Yield Tumbles Under 3.5% - Lowest In 9 Months
The short-end of the Treasury curve continues to reprice higher in yield (3Y +2bps) as the term structure bear-flattens with 30Y yields rallying further after the aggressive 7Y auction. 30Y yields just broke below 3.5% (-4.5bps) - the lowest level intraday since early July 2013. 2s10s are now at 2.21% - near 10-month lows - and 5s30s has plunged to 1.80% - its flattest since September 2009.
Curves are flattening rapidly...
and German bunds are the richest (lowest in yield) relative to Treasuries since the crisis...
Chart: Bloomberg
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BULLISH......right?
<sarc>
Well, they say no. So I'm guessing it's yes.
Tyler, I am not a bond trader. Tell me why i should care.
With real rates gowing negative again, I am surprised (not really) that PMs continue to slide... although I note that silver is now outperforming and junior gold miners are green...
All of this in the context of the golden cross
Desperation
Which is meaningless as it was the last time in 2012.
Interest rates have been falling a long time. Decades. Buoyant economic growth would reverse that. Where is it?
Welcome to two decades of nothing....that is how I see it....
fine. "we'll trade Paris for Shanghai"....would that pique your interest?
the only rule is "No Americans and No "whatever it means to be Russian" now."
what gives here? The only thing I can guess is that the fed kicked everyone out of the long end of the curve last year and not enough people bought spy. so now they are kicking everyone out of the shorter end of the curve. they don't want people owning bonds. that's for damn sure.
I'm guessing it probably isn't very hard to kick people out of the long end of the UST curve. Enticing them to come back in....
I mean, seriously, think of the stones you would have to have in order to say "yep, I'll take 30 year government paper for 3.9%". And then imagine finding the next guy in line to say the same thing at 3.5%.
Remember I'm a guy who used to dive head first in the Junk Bond market like I was fireproof or something. And even I'm not ballsy enough to buy a 30 year UST.
Wow this should make it easy to keep rates low while tapering...
tic toc
Rhinoceros? Imposeros! [/Cowardly Lion]
Old folks buy bonds. Always have. Always will.
And now there are more of them.
I was kinda pining for fewer old folks actually.
They do have the "Gray Panther militant wing" however.
AT&T and VZ etc is now the bond market. They are freeing up the bonds for foreigners to buy as Bill Gross continues to barf them up. I think the 5yr was at 1.3% when he tweeted to "Buy 5's".
whoops
Hah ha ha ha ha
Bills too wrapped up in Bill right now to be bothered with Capital Markets
Where's that fucking Mohammed?
Need moar yield...I have some dark side of the moon 30 year TIPs @ 5.00% for any interested parties.
Paging Willy Gross... <sarc/
Me too Yen. Don't fire until you see the whites of his beady little eyes.
lol .
The game continues...
every asshole on planet earth has been putting on bear flatteners since old yeller had her freudian slip last week...she's even dumber than she looks, which is hard to believe
They all work for the talker in chief.
You expect actions?
Jeeesh!
Yack yack yack yack
the more they print the cheaper the money yield? Someone must tell those guys that something terribly wrong is happening. Newton Law of Gravity aplly to everything, money include.
Or are someones playing god fucking the sheeps?
>>someones playing God
the NWO in a nutshell...
You guys are just missing it. THERE IS NO GROWTH. No growth is bond bullish. This has been going on for 30+ years. Where is the growth that would change this?
In the money supply.
On a long enough timeline, status quo can go on forever.