Could be PR. People who trade the treasuries who are also vastly smarter them myself have told me of cyclical natures of the bond markets as well and indeed more then one of them I spoke to forecasted this behavior last year. In fact one of them pegged the behavior pretty much on the money for the runup last spring to the rundown this fall.
Anyways as it runs back up that will hurt buying power. It “appears” to me that we bottomed out at 3.85 and can say goodbye to those levels. I guess we will see.
