â??The economic data just keeps coming in softer,â?? said James Combias, New York-based head of Treasury trading at Mizuho Financial Group Inc., one of the 18 primary dealers that trade with the central bank. â??The bond market is pricing in the real possibility of slower growth.â??
The benchmark 10-year note yield fell 14 basis points, or 0.14 percentage point, to 2.92 percent yesterday in New York, from 3.06 percent on July 9, according to BGCantor Market Data. It touched 2.88 percent on July 1, the lowest level since April 2009. The price of the 3.5 percent security due in May 2020 rose 1 5/32, or $11.56 per $1,000 face amount, to 104 29/32.
The two-year note yield dropped for the seventh straight week, falling 4 basis points to 0.59 percent and touching its lowest level ever, 0.5765 percent.
The collapse is very close. Hope y'all been savin' yer money!