History Shows Us Where Bond Yields Go Next

Core Viewpoint - The Federal Reserve's recent decision to lower the Fed Funds Rate has significantly impacted treasury rates, particularly on the long end of the yield curve, which has been a focal point in financial news [1]. Group 1: Treasury Rates and Yield Curve - The yield curve is exhibiting unusual characteristics, with the 3-month U.S. Treasury (UST) still yielding at notable levels [1]. Group 2: Investment Strategy - The investment approach emphasizes the importance of connecting macroeconomic trends and data to identify investment opportunities that may not be apparent to the broader market [1]. - The strategy involves maintaining concentrated, asymmetrical, and high-conviction positions while managing risk through disciplined position sizing [1].