Honey, I’m Done with the Whole Treasuries Thing

It’s admittedly an excruciatingly boring subject, one made worse by the ghoulish personalities of most people who talk about such things, but there is no denying that hugely important developments are underway in Treasury yield curves. Check the following two figures to see the rapid steepening under way — the tail in the first graph shows changes in last 30 days; the following graph is declining prices year-to-date of Treasuries at various durations. I

yield-curve
tlt-curve

In short (no bond pun intended), rates are going up in spiffy fashion as investors decide that Treasuries aren’t really that much fun for holidaying any more. Next crisis they want to vacation elsewhere.

[via Google & StockCharts]

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