What are bond yields saying?

Michael Shedlock is one of the more honest analysts around.Few have said the following:

It now seems that Greenspan is going to keep hiking until he breaks housing. Paradoxically, every FED tightening lends support to 10 year treasuries and the 30 year long bond. It seems the bond market can sense the housing debacle that is developing. I think 4% yields will look rather nice once housing implodes and takes the stock market down with it.

Read the entire post on rising foreclosures.Your local newspaper might not want to frighten away the home building industry.Your local newspaper needs advertising revenue.Mish's Global Trend Economic Analysis