This just in...something that will blow you away.
Because what I'm about to tell you is amazing.
The yield on a 10-year treasury note hit a record low today.
That's not only "low," my friends, "that's beyond a financial joke," my friends.
Just a few short years ago, it was at five percent.
When Bill Clinton was president, it averaged around seven percent.
In the early 1980s, north of 16 percent!
Talk about a joke...
But "this" isn't a joke.
Are buying bonds like crazy, despite those low returns, and actually helping to push those yields still lower.
That's what happens with bonds...the more people buy 'em, the higher the price for 'em...and the lower the interest rate attached to 'em.
Since that 10-year rate is pegged to a lot of mortgage rates, the lower those mortgage rates as well.
Now you would "think" with mortgage interest rates "this" low, surely interest in buying a home would be "really" high.
But it's not.
In fact, the news on housing is getting worse, not better.
Home sales falling 5.5% in the latest month.
Yep...even with home prices still low and those mortgage rates "really" low.
Think about it this way...
Mortgages likely at 3-something percent soon...and nothing...not a zip of interest now.
Inflation, that's practically "giving" loans away...on homes whose prices, compared to just a few years ago, are all but being given away as well.
Yet still no takers.
Still no boom.
Like the robot on lost in space...this does not compute...lower rates should compute...but they're not.
Still no CEOs investing cash they can get on the cheap.
Or average folks investing in even home projects they can now "do" on the cheap.
That's pretty scary.
Folks I talk to say it's all about confidence.
And people just ain't confident.
So they keep their cash tight.
And their wallets closed.
They ain't buying this recovery.
Even when officials are all but giving it away.