What I get out of it: tons of people are piling into long dated treasuries to lock in some kind of return or just as a way to get anything back. The buying pres

What I get out of it: tons of people are piling into long dated treasuries to lock in some kind of return or just as a way to get anything back. The buying pressure affects auction bids for the treasuries where the price gets bid down with more demand. People want to have a return for longer periods than a few months because they feel higher interest rates in the lower end won't last anywhere near ten years. The bond market is large, these are big moves. Rather than try to chase higher yields in places that are prone to bust, investors need to preserve capital firstly, gains come second. Right now the 2 month treasury is only 1 basis point less yield than the 20 year. Currently my money market savings pays more than the 20 year. Greenspan said after the rally look out below.