NEW YORK ( ETF Expert) -- With a yield on the 10-year treasury note near a paltry 2% at the start of 2012 -- as well as a five-year annualized rate of inflation of 2.25% -- purchasing iShares 7-10 Year Treasury ( IEF) had few fans in the media.What's more, few investors may have been willing to commit large sums of capital to an investment where one is likely to lose purchasing power; neither preservation nor price appreciation seemed probable. In fact, in the initial three months of the year, IEF struggled to hold its 200-day simple moving average. For shareholders, it appeared that the 30-year trend of declining interest rates might actually be reversing. And for treasury bond vigilantes, it seemed like vindication was at hand.
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