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So, what's going on with interest rates? Well, that depends on what interest rates you care about. Since the top of the year, short rates have snugged up a bit, but at the long end of the yield curve, rates have dropped precipitously. When you were nursing your New Year's hangover, the Treasury long bond yielded 2.33 percent. You'll get 30 basis points less now.
We might see a respite in the yield slide soon. Why? Take a look at the chart below. The black line tracks the