We heard. Jeeeeest a bit less room for Bernanke to let us down on Friday.
But if you think treasury yields are about to make a sustained, meaningful move upwards, you might want to look at this first:
And a few thoughts to go with it from Moody’s Analytics
Previous economic recoveries produced faster growth than will likely be seen anytime soon, and rates reflected these higher rates of output and inflation. In the 1990s expansion nominal growth averaged 5.7% as the 10 year Treasury yield averaged 6.3%. In the 2001-2007 upturn, growth averaged 5.2% as the 10 year Treasury averaged 4.4%. Growth currently stands at 3.7% with a 2.1% Treasury yield. Below trend growth naturally lowers rates, while robust international demand for dollar assets and aggressive monetary policy drive yields down further.