FYI: What a difference six months can make. That’s how long it took for the Federal Reserve to go from hiking rates (with talk of more hikes to come) to suggesting it may cut rates imminently.
The turnaround in the 10-year Treasury yield wasn’t any less abrupt. It went from a yield of 3.25% in November to as low as 1.97% this month, propelling the iShares 7-10 Year Treasury Bond ETF (IEF) to its highest level since 2016. (Bond prices rise as yields go down.)
It’s enough to make anyone’s head spin.
Regards,
Ted
https://www.etf.com/sections/features-and-news/head-spinning-reversal-bond-etfs?nopaging=1
