by Mike ‘Mish’ Shedlock
The “Bond Freak” is wondering what’s going on. I have an answer from Lacy Hunt at Hoisington Management.
Record 30-Year Long Bond Gyrations
[…] What’s Going On?
Given that a deflationary crash is underway with the Fed about to slash rates to zero, the yield on the long bond ought to be dropping.
In the initial phases of this stock market decline, that what happened. The last four days of rout undid a major portion of the yield plunge.