Today’s “fair value” estimate of the US 10-year Treasury yield continues to suggest that the current market rate is unusually lofty and that the spread will soon narrow. Yesterday’s sharp drop in the 10-year yield (triggered by upbeat inflation news for October) suggests that the process of normalizing has started.
Tuesday’s bond market rally cut the 10-year rate to 4.44%…
This story from capitalspectator.com was posted on 2023-11-17 by @arcticc.