Once more it is the 10 year treasury yield. What you have to understand is that the moves that the fed makes may or may not move the yields of the treasury. These yields depend on the bond markets. These markets vary based on alot of different factors including but not limited to the perception of the USA. This perception is a bundle of things… strength of the currency, economic policies, perception of how much we can be trusted to pay back the principle, etc… Finally there is an assessment of where are there other opportunities to get the same or better yield with the same amount of risk.
If the treasury yields were only going to be based on our idiot fed policies, rates would be sky high several years ago.
