10-Year Treasury Non-Commercial Net Positioning and Market Yield on U.S. Treasury at 10-Year Constant Maturity Given the high level of short positions in 10-year U.S. Treasuries, some investors may find it advantageous to increase the duration of their bond portfolio in a scenario of falling interest rates. Image: Real Investment Advice
Valuation – S&P 500 Forward P/E and 10-Year U.S. Real Yield Is the current disconnect between the valuation of U.S. stocks and the impact of real interest rates on the economy expected to be temporary? Image: Goldman Sachs Global Investment Research
Nasdaq 100 and U.S. 10-Year Treasury Return Index The divergence in returns between technology stocks and U.S. Treasury bonds is significant. Image: BofA Global Investment Strategy
U.S. 10-Year Government Bond Annual Returns Never before has the 10-year U.S. Treasury bond experienced three consecutive years of annual declines. Is this time different? Image: BofA Global Investment Strategy
S&P 500 Dividend Yield and 10-Year Treasury Yield U.S. Treasuries may currently appear attractive compared to the S&P 500 dividend yield. Image: The Daily Shot
Average U.S. 10-Year Treasury Yield Move Before and After the Last Fed Hike in the Cycle Historically, after the last Fed rate hike, U.S. 10-year Treasury yields have tended to trend lower on average. Image: Deutsche Bank
U.S. Unemployment Rate vs. 10-Year UST Yield and 3-Month UST Yield A bull steepener occurs when the U.S. unemployment rate increases. Image: Gavekal, Macrobond
Gold vs. 10-Year U.S. Real Rate Gold tends to be negatively correlated with U.S. real interest rates. Is gold at risk of price decline? Image: Morgan Stanley Wealth Management
Oil Price vs. U.S. 10-Year Breakeven Inflation Rate The correlation between oil prices and U.S. breakeven inflation rates is strong. Image: BofA Global Investment Strategy
U.S. 10-Year Real Yield (TIPS) The U.S. 10-year real yield hits 14-year high. Will the U.S. equity market hold? Image: BofA Global Research
S&P 500 Fwd Earnings Yield – U.S. 10-Year Treasury Yield Can U.S. Treasury bonds be considered more attractive than U.S. stocks at present? Image: The Daily Shot