The 10-year Treasury yield, in a persistent downward trend for more than three decades,
is now almost certain to rise for two quarters in succession.
The vaunted trend line on which many had come to rely, consciously or otherwise, has now — it appears — been definitively broken. The speed of the turnaround is breathtaking.
Looking at real yields, as offered on Treasury inflation-protected securities, or TIPS, they dropped below -1% in early March as the world reacted to the shock of Russia’s invasion of Ukraine.
After a steady ascent for three months, and a vertical gain in the last couple of days, they are now positive by 0.7%
“taper tantrum” - the 2013 incident
John Authers Bloomberg 14 juni 2022
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