The US treasury market is not in sync with the widely held belief the economy is growing stronger. A single chart clearly shows what I mean.
Yield Curve as of 2014-05-26
click on chart for sharper image
The above chart shows end-of-month closing values except for the current month which is up-to-date.
If the US economy was really strengthening, the long end of the yield curve ought to be rising strongly.
So why isn't it?
My take is the economy is poised to decelerate, not take off as most seem to think.
Mike "Mish" Shedlock
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 28th 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom