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Monday, April 16, 2012
Treasury yields continue to decline
Yields are declining and this is perfectly to plan because short term yields are declining faster than long term yields. In other words, Goldilocks' grip on the yield curve continues to well... yield. The curve is rising and that's very different than the situation that was painted into the macro by the Fed's stated intention to buy long bonds and sell short ones. The stock market is no longer cuddled nice and comfy in Uncle Benny's loving arms.