The great US Treasury bond rout is far from over

Bloomberg/Bill Dudley/6-29-2023

“Since last fall, the 10-year Treasury yield has remained in a narrow range near its current level of 3.75%. There’s little reason for it to stay there, and many reasons to expect it to move considerably higher.”

USAGOLD note: Dudley’s bond rout translates to higher rates…… He is the former head of the New York Federal Reserve. The TLT ETF, charted below, tracks the market value of US Treasuries. Dudley sees the yield on the 10-year Treasury going to at least 4.5 and “that’s a conservative estimate.”

TLT (Treasury Bond) ETF

Chart courtesy of TradingView.com