Long-Term View on Rates
02/11/2009 9:39 am EST
The long-term chart of the T-note yield shows a well-defined trading channel derived from the 1994 and 2000 peaks. It is interesting to note that the test of the lower channel line occurred after the stock market lows in 2003. Rates have risen from the December 19, 2008 lows, but there has not yet been a confirmation of a bottom.