Having reached their yield low at 1.32% in July 2016, US 10yr bond yields have been locked in just shy of a 2% range for the last two and half years (subsequent high 3.25% and low 1.43%). For yields to fall again, supply must fall, demand rise or central banks recommence their experimental monetary policies of negative interest rates and quantitative easing. For yields to rise, supply must rise, demand fall or central banks reverse their multi-year largesse. Besides supply, demand and monetary policy, there are however other factors to consider.
Demographics
One justification for