The yield on the 2-year Treasury has popped to levels last seen in 2007.
Never mind Thursday's selloff in the stock market. Income-seeking investors are primed to pick up a risk-free return exceeding 5% now that the yield on the 2-year Treasury has spiked to highs last seen in 2007. Traders flinched when the ADP payrolls report for June came in much hotter than anticipated. Private sector employers added 497,000 jobs last month , blowing away Dow Jones' consensus estimates for a gain of 220,000.
"In our opinion, all else equal, we are comfortable adding additional duration exposure and would be more aggressive in doing so when U.S. 10-year Treasury yields cross above 4%," wrote Luis Alvarado, global investment strategist at Wells Fargo, in a report earlier this week. How to buy in To purchase Treasurys directly from the U.S. government, you can set up an account on TreasuryDirect.gov . You'll need to link your bank to this account.
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