Archive for July, 2012

July 2012

July 31, 2012  |   Monthly Commentary   |     |   0 Comment

Against a mixed economic backdrop, confusing signals from Federal Reserve Chairman Bernanke, and ongoing brinksmanship in Europe, the 10-year Treasury note briefly touched an all-time low yield of 1.39% in July, before ending the month at 1.47%. Similarly the yield spread between the 2-year and 30-year Treasury notes narrowed to 223 basis points, more that 100 basis points narrower than the level at which it stood one year ago. Historically, yield curve narrowing is a ...