Scarcely a day goes by without a flood of new articles in the financial media expressing shock and disbelief over Treasury yields. It's not just that they are wrong, these say, it's that they have to be wrong. What they are implying just isn't compatible with the what "everyone" is expected to believe. Consumer sentiment is still high as are stocks (maybe a relationship?) Central bankers are still forecasting a second-half rebound.
Officials have even gone so far as to claim financial conditions have improved of late.
The yield curve, in conjunction with eurodollar futures,