Prior to QE, the 10YR UST traded at or above nominal GDP 71% of the time. Post QE, it rarely went above nominal GDP. There is a case for the 10YR to again trade at or above nominal GDP again.
10YR UST vs Nominal GDP
Prior to QE, the 10YR UST traded at or above nominal GDP 71% of the time. Post QE, it rarely went above nominal GDP. There is a case for the 10YR to again trade at or above nominal GDP again.
