Particularly if you are a pension fund and hold US Treasuries and Agency Mortgage Backed Securities.
The bad news is that the 10-year US Treasury Note declined in price, sending the yield up over 10 bps today.
As The Fed is projected to raise its target rate over 10 times by February 2023, 10-year Treasury Note prices and agency MBS 3.5% prices continue to decline.
Here is a video of The Biden Administration and The Federal Reserve attacking pension funds and Social Security.
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