Deflation here we come. I'm glad I moved to long-term treasuries:
At today's close:
U.S. Treasuries:
3-Year: 0.79
5-Year: 1.45
7-Year: 2.13
10-Year: 2.76
30-Year: 4.01
I think the only way to stop this slide is extremely aggressive monetary and/or fiscal policy. I don't think that's going to happen.
So, how low will rates go?
My armchair guess is that 10-year treasuries will fall below 2.0 percent before this is over. But I really don't know.
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