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Beyond the secular pressure on the sector, markets wererattled in May when Fed Chairman Ben Bernanke hinted thattapering would come soon. Long-term interest rates spiked inlate May and continued rising until the Fed's latestannouncement. The 10-year Treasury yield ended the quarteraround 2.61 percent, compared to around 2.477 percent at thebeginning of the quarter. But between those relatively similarvalues were some wild gyrations - the yield reached as high as 3percent during the quarter. |
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Winston |
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2020-04-19 02:42:57 |
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