All this week on CNBC, all this hand-wringing over the surging 10-year Treasury, jumping from below 1% to 1.13%.
Some folks on CNBC talked as if the world was coming to an end.
Today I see the 10-year Treasury dropped four basis points, back to 1.087%. The dollar was stronger despite President-elect Biden's $1.9 trillion stimulus plan, and the price of oil showed the biggest decline in weeks. Guy Adami was practically apoplectic on Fast Money yesterday with regard to the surging 10-year Treasury and the falling dollar and the $1.9 trillion stimulus plan. Tea leaves suggest the US economy is "not yet out of the woods" by any stretch of the imagination. From Rigzone below "... and weak US economic data stoked concerns..."
I didn't watch CNBC all day so I have no idea what their talking points were but when I get back to blogging anything of note regarding the Bakken, we will have a new president.
It's a three-day weekend, and then a day before the inauguration. I suppose there could be some Bakken news Tuesday but that's about it. Then President Biden takes over. Who would have ever guessed?