US Treasury rates are at the lowest in history. Currently, the 10-year yield is at 1.40% and the 30-year yield is at 2.46%.
However, Citi technical analyst Tom Fitzpatrick thinks that these record low borrowing costs could go much lower.
Fitzpatrick spoke with King World News:
US 10 and 30-Year yields have made lower lows. The comparison we make on US 10-year is with the 1993 price action (background being savings and loans crisis, housing downturn and economic recession) and that overlay suggests an acceleration to the downside in terms of yields. The medium term target is unchanged at 1.15%-1.20%.
US 30-Year yields have breached 2.50% and a close below would confirm the break. Expect an eventual test of the 2.00% area.
Photo: Citi via King World News
Read more at KingWorldNews.com.
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