The T-Bond (TLT) (TLH) (IEF) route moved the 10 year from around 2% in early 2013 to a high touching 3% precisely at year end. The longer duration securities such as the 30 year also traded down in value, up in yield in 2013, about 90 basis points to end the year at almost 4%. All the related interest-sensitive markets were beaten into submission going into year end. Opportunities for savvy income investors were plentiful – for a brief moment.
Market Dancing to a Different Tune in 2014
Since the beginning of 2014, however, the music has been noticeably different.
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