Long Bonds Break To The Downside

``what is so remarkable is that it is occurring in the face of total planned Treasury purchases of some $600 billion as announced by the Fed back in November. The entire purpose of that program has been to move long term rates lower and help with the dismal housing market and real estate sector which needs the low rates to boost demand so as to mop up the huge overhang of houses and properties hanging over this sector of the economy. With today’s breakdown of the 5 year on out to the long end, interest rates are headed in a direction completely opposite than what the Fed has been intending!''