Treasury Yields Rise; What’s Cooking?
March 26th, 2010
I concur with Rosenberg this is not an inflation related phenomenon. And with the economy slowing, fundamentally treasury yields out to be dropping.
Then again most do not believe the economy is slowing. However, new home sales hit fresh record lows, state tax revenues that have collapsed, and the Chicago Fed National Activity Index dropped to –0.64 in February, down from –0.04 in January.
Bear in mind that new home sales typically lead every recovery. I am hard pressed to be believe it’s different this time.
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