Bond bulls in charge as 10-year hits new 2017 low

|By:, SA News Editor

The 10-year Treasury yield is down another five basis points to 2.20% this morning, matching yesterday's intraday low, and now at a level not seen since just a few days after November's election (it stood at about 1.9% prior to the Trump victory).

In economic news today, housing starts for March missed estimates, but the trend remains strong. In equity markets, stocks here are down only modestly, but lower by nearly 1% in Europe.

Looking at short-term rate markets, they're pricing in only a little more than one rate hike for the rest of the year, even as most Fed speakers are promising two-three more moves.

TLT +0.8%, TBT -1.6%

ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, VGLT, TLH, UBT, DLBS, TLO, VUSTX, DLBL, TYBS