- A big unexpected dip in core PPI in February (-0.2% vs. +0.1% forecast) combines with a negative reversal in stock index futures to send the 10-year Treasury yield all the way down to 2.61% from 2.67% in the minutes ahead of the 8:30 print. Up for most of the overnight and morning session, S&P 500 futures are now off by 0.2%.
- TLT +0.5%, TBT -1%
- It was just 72 hours ago when the 10-year yield touched 2.8%. The low for the year is about 2.59%.
- ETFs: TBT, TLT, TMV, TBF, EDV, TTT, TMF, SBND, ZROZ, TLH, DLBS, VGLT, UBT, TLO, LBND, TENZ, TYBS, DLBL