Treasury Yields Are Tumbling Back To Record Lows

Yesterday’s brief interruption in the demise of yield (driven by rate-locks due to the massive Alphabet issuance), has ended with Treasury yields erasing the entire move and then some.

Source: Bloomberg

Aside from the flash-crash spike lows on March 9th, this is the lowest 10Y yields have been ever…

Source: Bloomberg

And stocks refuse to pay attention…

Source: Bloomberg

Because “Vaccine” or “V-shaped recovery” or “Fed put” or “Washington put” or…

And as yields plunge, negative-yielding debt soars and sends alternative assets higher…

Source: Bloomberg

Trade accordingly.