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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