With yields down for 11 of the last 13 days, 10Y Treasuries are trading at their lowest interest rate since August 13th. The 5Y yield has collapsed 45bps since September 6th when the 10Y briefly broke above the 3.00% Maginot Line. This is the largest absolute decline in interest rates in a 13-day period since the summer of 2011 and the US downgrade... it seems Ray Dalio might be on to something [3]...
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