Long-term government bond yields are on the rise yet again:
On the one hand, 30 year Treasury yields are now the highest they have been since 2007, right before the onset of the Great Financial Crisis. Long bonds yielded around 1% in at the Covid crash nadir so they’ve come up a lot this decade.
On the other hand, the average yield in the past 50 years is 6.2%. From 1977 through the summer of 2001, yields on long b…