News Snapshot:
SIphotography/iStock via Getty Images Introduction Over the last few weeks, long-duration treasury yields have dropped like a rock after the latest Treasury quarterly refunding announcement called for lower-than-expected issuance of long-duration treasury bonds in Q1 2024. Janet Yellen's move to finance a larger portion of the US government's huge fiscal deficit spending via short-term treasury bills caught bond vigilantes off guard, and subsequently, we have seen a drastic drop in long-duration treasury yields [the 10-year treasury yield is down ~135 bps in a month - falling from ~5.20% to ~3.85%]. And, this drop in treasury yields has been somewhat exacerbated...
