Treasury Yields at Record Lows

The yield for the 10 Year Treasury note (the interest that the government pays on loans) closed at 3.09% today. This is an all time low as far as my data goes. The way toward the 2-2.5% yield is wide open. I expect to see yields at those levels sometime in 2009/2010. The yield curve will flatten out further since there is little room left for Treasury Bill Yields to drop.

Please see the chart below

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A closeup:

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