Holy-Moly Mortgage Rates Hit 5.64%, 10-Year Treasury Yield 3.12%, Long-Term Treasury Bond Fund Gets Massacred

by Wolf Richter, Wolf Street: So the Fed Gets Ready to Walk Away from the Bond Market, and All Kinds of Stuff Happens. The price of the iShares 20+ Year Treasury Bond ETF [TLT], which tracks an index of Treasury securities with long maturities, dropped another 1.5% on Friday, after having dropped 2.7% on Thursday. […]