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Does a Weak 10-Year Treasury Auction Mean the Bond Rally is Finally Toast?
Treasury yields may still be too low for most sensible U.S. investors to chase today, but the yields on long-term rates have started ticking back up from the post-Brexit lows. Maybe a record stock market has at least a little allure now when you compare the dividends versus bonds. The 30-year Treasury long bond had a yield of 2.25% and the 10-year note yielded 1.52% on July 12. Only 7 of the 30 Dow Jones Industrial Average stocks had a yield of less than the 30-year Treasury. This and slightly better (or less bad) economic reports should set the tone for a fight in Treasury auctions ahead. Tuesday’s 10-year ... (full story)