The potential end to “quantitative easing” hit the global bond market hard in the middle quarters of 2013. Yields soared in the bond market, as the chart below shows. The 30 Year U.S. Treasury yield as shown below increased from 2.8% on May 2nd to 3.5% on June 30th . The increase in yields continued through the summer and fall. The yield hit 3.9% before closing the quarter at 3.7%, up another .2%.
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Canso September 2013 Market Observer
