Yield Curve Madness!!!
I had to share this with you. It’s a snapshot of the US Treasury market as of approximately 8:30AM Eastern time. Notice in particular the first digit of the yields on the 2 years out to 30 years – 1, 2, 3, 4. As I understand it, what you see there is the lowest yield in the T-Bond since like the 1950s.
End of day update: All those big negative numbers ended up turning positive in the 2s to 30s by day’s end. Not that they went as far positive as they had been negative, mind you, but what had been a sharp steepening of the yield curve became a flattening when the dust cleared.
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