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Suddenly, Amazon Doesn't Love Its Moms AnymoreDo you remember the old adage, stock up bonds down? Well, that's what has been happening during the recent stock market rally. Since March, US treasuries have dropped about 900 basis points or $9000.00. Now remember that the price and the yield go in opposite directions. As the price goes down, The yield or interest rate goes up.The yield on the 30 year US bond stands at 4.21%
Why is the yield so important? For one thing if interest rates go up, mortgage rates will also rise. The Federal Reserve has vowed to bring mortgage rates down to help the housing market. It even took the bold move of buying treasuries to pump more money into the banking system. So far, the Federal Reserve has bought $300 billion of US treasuries.
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