Current Treasury Yield Snapshot: Anxiety Increases
Courtesy of Doug Short
Note from dshort: Check out the collapsing yields, especially in the shorter maturities, in the second chart. The bond market is clearly worried about the economy.
The first chart is an overlay of the CBOE Interest Rate 10-Year Treasury Note (TNX) and the S&P 500.
Over the timeframe shown below there has been a weak correlation between the two assets classes, with yields tending to lead changes in direction.
10-year yields have fallen dramatically since the 2010 high of 3.99 set on April 5th, three weeks before the S&P
The next chart shows the daily performance of several Treasuries and the Fed Funds Rate since 2007. The source for the yields is the Daily Treasury Yield Curve Rates from the US Department of the Treasury. The yields on the shorter maturities have taken a nosedive, with the 2- and 5-year note yields hitting historic lows.
For a long-term view of weekly Treasury yields, also focusing on the 10-year, see my Treasury Yields in Perspective, which includes a chart series I update monthly or more frequently if warranted.
