Treasury Yields Are Tumbling… 5Y Just Hit Record Lows

As commission-rakers and asset-gatherers cheer the rebound in stocks as if it means anything – remember, stocks are a discounting mechanism (like they were in February?) – bond markets are saying this is far from over.

5Y Treasury yields are now at record lows…

10Y yield is back within a few bps of the record low plunge…

And bonds and stocks are completely decoupled…

Who do you think will be right when this is all over?