Fed Keeps Low-Rate Policy Intact; Treasury Yields Spike Anyway; Hissy Fit Over Fluff

by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis

Curve Watchers Anonymous has a close eye on treasury yields in the wake of essentially no news from Bernanke as to when the Fed might actually begin hiking rates.

A mere hint the Fed might slow its QE program was enough to send treasury yields and the US dollar higher and stocks lower.

Yield Curve 2013-06-19

[…] Curve Watchers Anonymous notes the yield on the 10-year note is up 13 basis points from yesterday, and the 5-year note is up 17 basis points from yesterday.

Here are some charts Yields are off by a factor of 10. For example 5-year treasury yield is 1.27% not 12.27%. Note the selloff (rise in yield) the mid-day moment Bernanke opened his mouth.

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