We continue to watch the key 2.60% yield level on 10-year Treasuries. A meaningful break above the 2.60% yield level will likely signal the end of the over three-decade secular bull market in bonds and the beginning of a new secular bear market in bonds. The 10 year yield has retreated from its highs of late last year, but still remains within striking distance of the key 2.60% level. Savvy investors should continue to watch the direction of longer-term interest rates as they are likely to set the tone for a broader range of asset prices in 2017.
Jeremy Jones, CFA
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