Treasury Bear Market Worst in History But Investors Seem Calm

The ongoing sell-off since 2020 has caused the worst Treasury bear market in history, but investors don't seem panicked.

Yields on 10-year and 30-year Treasurys have reached levels not seen since before the 2007-2008 financial crisis.

There may not be panic because more institutional investors own long bonds versus individuals.

Many individual investors have had an "escape hatch" in shorter-term bonds.

While rates could keep rising, current higher rates provide a margin of safety versus the 1950s-1980s bear market.