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Chart of the Week: 10-Year Treasury Note Yield

Mon, Apr 12, 2:52 AM ET, by Bill Luby

I'll be the first to admit that I have never considered myself a 'bond guy' and I spend much less time than I probably should studying the bond market. That being said, I know I have quite a few equity-centric readers who think the bond market moves too slowly to warrant their attention. The attitude is frequently, "I'll never be a bond trader, so why should I spend my time watching bonds?"

My quick answer to bond skeptics is that bonds can help to divine the direction of interest rates and bonds frequently make major market turns before stocks do. Additionally, with the advent of bond ETFs such as highly liquid TLT (and its +3x and -3x counterparts, TMF and TMV), it is now much easier for the retail investor to trade the U.S. Treasury long bond and their volatile triple ETF counterparts, as well as some of the shorter-dated Treasury ETFs, such as IEF, which is comprised of U.S. Treasury Notes with a target maturity of 7-10 years.

The bond world is so large that I have singled out one particular bond in this week's chart of the week as the bond number for non-bond people to follow. The chart is the yield on the 10-Year U.S. Treasury Note, which is the de facto benchmark for government and frequently corporate bonds too.

Note that the yield on the 10-Year Treasury Note just hit 4.00 last week, attracting buyers such as BlackRock (BLK), which found the steep yield curve a good reason to buy some of the 10-Year Treasury Notes.

For those who wish to dive further into the subject of intermarket relationships such as the link between bonds and stocks, an excellent place to start is with John Murphy's Intermarket Analysis.

For more on related subjects, readers are encouraged to check out:


[source: StockCharts.com]

Disclosure(s): short TLT at time of writing



SDI Glossary: "Bond" Definition
SDI Glossary: "ETFs" Definition
SDI Glossary: "Stock" Definition
SDI Glossary: "Treasury Notes" Definition
SDI Glossary: "Yield" Definition
This Article's Word Cloud:   Additionally   Bond   Bonds   ETFs   Note   Notes   Treasury   Watch   Year   Yield   admit   attention   bond   bonds   centric   chart   comprised   considered   counterparts   dive   equity   follow   frequently   further   have   intermarket   just   link   market   much   never   particular   quick   readers   related   short   should   slowly   some   spend   stocks   studying   such   that   their   time   week   which   with   yield

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Chart of the Week: 10-Year Treasury Note Yield | Self Directed Investor | Copyright © 2008 - 2014, All Rights Reserved

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