Friday, August 19, 2011

The yield on the 10-year...

...U. S. Treasury note fell below 2 percent yesterday:

According to data from Bloomberg, that low during the day was the lowest yield since at least 1962. Global Financial Data, a supplier of historical financial and economic statistics, said it was the lowest since 1950.

As Paul Krugman would say, so much for the bond vigilantes.

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