“Treasuries suffered their first annual decline since 2009 — with long-term notes and bonds that mature in 10 years or more losing a hefty 12 percent. The bond market — junk bonds, Treasuries, mortgage bonds and so on — had its worst year in 14. And by all accounts, the losses are far from over. Even the ever-conservative Wall Street crowd is forecasting a further rise in 10-year yields. The average target, according to Bloomberg, is 3.4 percent by the end of 2014. But for all the reasons I’ve been sharing for months, I think that will ultimately prove far too conservative.”
http://www.moneyandmarkets.com/treasuries-post-historic-decline-heres-what-to-expect-in-2014-57306
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