I’ve been trying to write an update on the 30 year Treasury for the better part of an hour…I can’t get it done because every time I grab the screen shot the long bond jumps another quarter of a point. I started this process when the 30 year was up about 5 points. I looked around the office and nobody could remember the long bond being up 5 points in a single trading session…if it’s not a record it has to be close because nobody can remember the last time it happened. I grabbed the screen and then it was up 5.5 points, then 6, then it kept going…currently the 30 year Treasury bond is up almost 9 points. There is no story yet on what is causing the rush to the long end, but have no doubt that the 30 year is moving like a rocket. As I type it’s now up over 9 points. When I get some news I’ll pass it on…9 points in a single session has to be in record territory. It is now yielding 3.44%.
Below is a graph of the yield on the 30 year Treasury. It opened this morning at 3.87%....it is now trading at a 3.44%. I’ll update as things develop.
Steve Scaramastro
800-311-0707
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