US 10-year Treasury yield fell for the third-straight day yesterday as the bond markets appear to believe the signals that the US economy is growing again and that Europe is working through its debt problems as well. A potential agreement between Greece and its bondholders is expected to be announced soon, if not later today, and that will hold yields down even more.
The 10-year note yield fell to an even 2% and the 30-year bond yield fell to 3.07%. Two-year notes were unchanged, with a yield of 0.246%.
The Federal Reserve continued is program of selling short term notes and buying long term notes with a purchase today of $2.52 billion in Treasures due in 2036 and 2041.
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