Tag Archives: 10-year note
Treasury bonds put on a fireworks show again today. Prices skyrocketed as the yield on the benchmark 10-year note plunged to 3.53%, the lowest since 1958. What’s going on here? Until a few days ago, the consensus was that bond prices were rising because the Federal Reserve, at its last meeting, implied that it might drive down money market interest rates even further. Some speculators were also betting that the Fed might buy long-dated securities in an effort to keep rates low across the entire maturity spectrum.