— Dana Lyons (@JLyonsFundMgmt) March 6, 2020
Today’s Chart of the Day was shared on Twitter by Dana Lyons (@JLyonsFundMgmt). It’s a long-term chart of the 10-year US Treasury yield ETF, $TNX, going all the way back to 1962. Today was a historic day for US Treasury yields. Traders have been piling into Treasury Bonds, causing the yield on the 10-year note to crash to an all-time low of 0.71%. As you can see from the chart, yields have fallen at an unprecedented rate over the past couple of weeks. It’s unclear at the moment how this will impact the stock market and the economy, but one thing is for sure, this is truly historic price action. It would be prudent to pay attention to what’s going on in the Bond market right now.