10 Year Treasury Yield Drops by 17 Basis Points on Single Day

Yields for 10 year treasury notes dropped by 17 basis points today, ending the day at 3.28%. Today’s auction showed high demand for safety is back and alive.

Below the daily chart:

treasury-yields-july-08-2009
Click on image to enlarge.

So far this is exactly what I have been expecting as I explained in Inflation Fears vs. Reality. Hyperinflationists are unable to explain what is happening and can only watch this trend with confusion.


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