Can You Hear It?
August 18, 2011 at 12:09 pm | Posted in wall street | 41 CommentsThe bond market is shouting at you this morning.
The benchmark ten-year Treasury Note just traded below a 2% yield. If you were alive the last time that happened, you qualify for Medicare.
Throughout the liquidity crisis of 2008, rates on that benchmark bond didn’t get that low. Not when Lehman collapsed, not when the US economy was losing 800,000 jobs a month, not when the Treasury was “forced” to guarantee even commercial paper issued by corporations for money market fund holders.
From that Bloomberg article:
“Ten-year note yields dropped 16 basis points, or 0.16 percentage point, to 2.01 percent at 10:09 a.m. in New York, according to Bloomberg Bond Trader prices. The 2.125 percent securities due in August 2021 rose 1 14/32, or $14.38 per $1,000 face amount, to 101 2/32. The yields touched the record low of 1.9735 percent, dropping below 2 percent for the first time. “
If you heard it, did you know what it was trying to tell you?
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