THE 10-YEAR NOTE – 8/2/21

Tomorrow (Tuesday 8/03/21) is the 2,500th trading day that the 10-year Treasury note has been traded since 8/05/11, the day S&P downgraded the USA’s top-rating that America had held for 70 years.  The yield on the 10-year note was 2.57% on 8/05/11.  The yield on the 10-year note closed at 1.24% on Friday 7/30/21.  Ironically, most bond market watchers anticipated the cost of borrowing for the Treasury Department would rise as a result of the 2011 credit downgrade (source: Treasury Department).

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