The yield on the 10-year U.S. Treasury fell to an 11-month low on Wednesday and the drop continued into Thursday -- as the yield is on the verge of breaching the 2.40 percent level.
When the word that the Fed was going to taper began to spread throughout the market, the consensus was that interest rates would rise as the Fed no longer propped up bond prices. That has not been the case.
After peaking the last day of 2013, yields on the 10-year have been in a slow and steady decline. The latest fall, however, is extremely important on a technical basis. With no clear support for the yield on the 10-year, other than a little near the 2.30 percent area, bonds could continue to ...
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