And historically, a 10-year yield at 4% is low. “Getting back over 4% is just one step in the right direction,” said said William Larkin, portfolio manager at Cabot Money Management. “It is a sign that the economy is recovering and that people are starting to look at the other side.”
The sharp drop off in debt prices is also a result of the massive amount of supply hitting the market. The government has been spending at a breakneck pace and has been selling an unprecedented amount of debt to finance its rescue efforts.
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