Why are U.S. Treasury Bond Yields so low ?

Ten year Treasury bond 

yield predictions for 2019 

already look far off the mark.

(see chart below) 

The 10-year yield 

collapsed from 3.24% 

on November 8, 2018,

to just 2.096% on Friday

Why a 35% decline 

in the bond yield ?

Well, there are many 
possible causes, but

a strong U.S. economy
is NOT one of them ! 

Net national savings 

in Q1 2019 

was just $506 billion 

at an annual rate.

That's 26% below 

the $681 billion rate 

recorded in Q1 of 1999, 

and that's not adjusted 

for inflation.

Adjusted for the 46% rise 

in the GDP deflator since 1999, 

today's net national savings level 

stands at $340 billion (1999 $) 

or 50% below where it was 

20 years ago.

That means the private economy 

has 50% less, in real terms, 

to invest in future productivity 

and growth, compared with

what it had two decades ago.

That's NOT how to promote

faster economic growth !

Most of the developed world 

economies have experienced 

a net national savings rate decline 

which looks like that of the US.