I know there has been a lot of inside baseball in the bond market this week that has pushed rates lower but the two bits of bullish news for prices (and lower yields) have resulted in a yawn from that market.
Yesterday’s “news” from Goldman that they expect the Fed to buy another $1trln of bonds and today’s sizable intervention from the BOJ have seen rates on the long end of the curve rise. Short-dated coupons have fallen in yield, to be fair, with 2-year notes dipping below 0.50% again. They now yield 0.49%. 10-year notes have backed up in yield to 2.72% from 1.66% earlier today.
Dazed and confused, I am…