The chart of the night (or year?) comes from @cbk_chi on Twitter…
Given that government bond yields are plunging to record lows all around the world right now, it’s nice to look at the US Treasury yield curve (the rate at which the government borrows over various durations) now as compared to 1 month and one year ago.
As you can see, yields have fallen massively across the curve. And what’s important to remember is that a year ago, when 10-year yields were over 3%, people were talking about those as being way too low, and how there was nowhere to go but up.