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USO - IEI: 0% Is The Next Destination For 3-10 Year Treasury Yields
United States Oil Fund
The verdict is in just days after Fed's 50bp emergency rate cut : It is not enough. Despite non-farm payroll number blowing out expectations, it was overshadowed by a spiraling coronavirus contagion which led to 10-year Treasury yields plunging below the key 1% level on Friday, while the yield curve remains inverted based on the 10yr-1mo differential:
Source: U.S. Department of Treasury, WingCapital Investments
As discussed in the previous article on why 7-10 yr Treasury ETF (IEF) will likely outperform on a risk-adjusted basis, it is widely expected that the Fed