In what is a strong move in interest rates the 10 year treasury is up by 12 basis points today to be at 1.63% at this moment. This is closing in on the highest yield of the last 6 months which occurred in October at about the 1.67% level.
The 2 year treasury is just 5 basis points higher indicating the yield curve steepened a bit.
The high yield in the last 12 months is in the 1.76% area and considering the level of inflation rates should be much higher than the current level–but we shall see where they go.
Thus far preferred stocks and baby bonds have just been ‘nicked’ a bit–off 8 cents.