The budget passage and raising of the debt ceiling on October 17th marked a significant change lower in interest rates. The 10 year treasury chart below shows the yield over the last three months. Notice how 2.6% was a strong area of support that had held multiple times until the government reopened on October 17th. The breaking of this support is the first significant move lower since the large move up that started all the way back on May 3rd. The move lower does appear to have legs when you pull out the 1 year chart of the 10 year treasury which can be seen below. Notice the clear head and shoulders pattern which is one of the most reliable reversal patterns. The chart is clearly pointing towards lower rates. Put in combination with QE continuing without any taper and the weaker economic data being released I would expect rates to move lower over the short-term. Please feel free to contact me to see how low rates would need to get to save you money.
3 month chart
1 year chart