Since 1983, there have only been six quarters in which the yield on the 2-year Treasury has risen by more than one percent including the current quarter! In four of the six cases, the rise barely exceeded one point. Only in the current quarter and during one quarter back in mid-1980s did the rise meaningfully exceed one percentage point. The rapid rise we are currently seeing is virtually unprecedented. (Source: Dr. Elliot Eisenberg, the Bowtie Economist).
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