Lidocaine! TYVIX (Treasury 10Y Volatility) Hits All-time Low As 10Y Yield Flirts With 3% … Again – Confounded Interest

Central banks including The Federal Reserve have numbed the Treasury market to the extent that it feels like it has been injected with a massive dose of Lidocaine.

10-year Treasury Note volatility (TYVIX) just hit an all-time low.

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And the ten-year Treasury Note yield briefly flirted with 3% this morning before retreating back to under 3% again.

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As you can see, The Fed has barely begun normalizing the 10-year yield.

farbast091418

Lidocaine! Fed-style!

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