Bonds Taking a Beating

Bonds are having their worst day since January today as the yield on the Ten-Year Treasury is back above 3.5%. Below we have updated our trading range charts of international long-term interest rates. As shown, with the exception of Australia, rates remain in downtrends near their lowest levels in a year. So while today and the next few days may be tough for bond investors, the longer-term trend in interest rates remains down.