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I think our 10-year bond is affected much more by yields in Europe than by the pace of new home sales. The German 10-year closed at 0.95% today. And the spread of the US 2-year versus the German 2-year (which is negative) is the highest since 2007:
Comments
"...reports of my death was an exaggeration!"
http://www.bloomberg.com/news/2014-08-26/treasury-two-year-notes-yield-most-versus-germany-since-2007.html