The 10-year closed at 2.46 percent today, a 20-month low, on the back of weak consumer confidence. Bond buyers and traders hear the horn of QE2 and anticipate a [Kentucky] FED take-out at higher prices.
Stocks up, commodities x/grains up, bonds up, dollar spanked. Loose monetary conditions starting to bite. “John Bull can stand many things, but he cannot stand two zero percent.” Stay tuned!