US Treasury Yields 1998-Present
The above chart suggests it is far too premature to believe that long-term yields have bottomed.
US Treasury Yields 5-year Duration and Under 1998-Present
Other than zero-bound 3-month treasuries, it is difficult to present a clear technical case that even short-term rates have bottomed.
And given that a huge percentage of the world's bonds trade at negative interest rates, one cannot make a legitimate case that any bond yields have bottomed.
Mike "Mish" Shedlock