10-year falls below 1.5000%
One of the curious things about market action in the past week as the the bond bid is relentless. It's there when there are waves of risk aversion (like yesterday) but it's also there on days like today that are calm -- and even there on days when stocks rally.
The 10-year yield just broke 1.50% for the first time since 2016 and is now down 55 basis points since Trump's new tariffs.
One school of thought is that yields are being dragged down by Europe and that's a fair argument but it can't just be Europeans buying all these bonds. This move is insane.
In turn, gold is starting to get a bid.
Are we in flash crash territory here?
