30 Year Treasury yields have dropped substantially from the October highs(2.18%). Today the TYX(30 Yr. Treasury Yield Index) is taking out the September lows and appears headed for its first close below 1.8% since late January. A retest of the 2021 lows would drop yields down to 1.6%.
The drop in long term rates has sparked a breakout move in the XHB(S&P Homebuilders ETF). The index is trading at new 2021 highs today as it extends the rally off the October lows to 14%.