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ECKS | Now financial markets are starting to agree. Treasury yields--a common benchmark for the movement in the bonds that underlie mortgage rates--hit "lower highs" for their 3rd consecutive day today. By the end of it, the 10yr Treasury yield even managed to make a new low versus yesterday. Last but not least, it's the 3rd trading day in a row where yields ended lower than they began (during domestic hours). That's the first time that's happened since the end of January, and a hopeful--if not promising--sign that the worst is over for now.
The question is; how does Fed yield curve control affect this statement. My contention is that Treasury yields are no longer reflecting the ‘market’. What we are seeing is Fed interference. It’s a new paradigm. | |
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interest rates
