Welcome Back 30-Year One Handle We Missed You
The 30-year long bond yield rose above 2.00% on September 5 and stayed above that rate for over a month.
From September 13 through 15, the yield topped at 2.375%.
I am wondering how much of that spike is related to overnight funding topping 10.0%.
Regardless, welcome back sub-2.0% we missed you.
A slew of bad economic reports is behind the collapse.
On October 1 the ISM reported Manufacturing Worst Since 2009 on Severe Contraction of Export Orders.
Also note, the Fed has Recession Tools, Promises to Use them Quicker Next Time.
Mike "Mish" Shedlock