Welcome Back 30-Year One Handle We Missed You

By Mike Shedlock of MishTalk

Investment Advisor Representative - Sitka Pacific Capital Management • Oct 7, 2019 at 4:10 AM EDT

The 30-year long bond yield just fell back below 2.00% for the first time since September 4.

The 30-year long bond yield just fell back below 2.00% for the first time since September 4.

The 30-year long bond yield rose above 2.00% on September 5 and stayed above that rate for over a month.

From September 13 through 15, the yield topped at 2.375%.

I am wondering how much of that spike is related to overnight funding topping 10.0%.

Regardless, welcome back sub-2.0% we missed you.

A slew of bad economic reports is behind the collapse.

On October 1 the ISM reported Manufacturing Worst Since 2009 on Severe Contraction of Export Orders.

Also note, the Fed has Recession Tools, Promises to Use them Quicker Next Time.

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