We're within striking distance of all-time lows

There was a pretty wicked turnaround in bond yields last week as they snapped up to 2.32% from 2.12% but they've fallen back down to the lows. In fact, they've edged below them fractionally.

The 2016 low was 2.0882% (shown as the lower line on the chart).

We're within striking distance of all-time lows