T-Bond Yields Spike Higher
06/11/2009 9:06 am EST
The yield on the 30-year T-bond moved above 5% intraday, which is not a good sign heading into today's auction. The downtrend from the 2000 and 2007 highs (dashed line) was tested with a slightly longer-term downtrend in the 5.20% area. The 50- and 200-day MAs have turned positive, consistent with higher rates.