I saw people talking about how the USA 30-year bond yield has halved in the past year. can someone explain to me in lay terms what the implication of a 30-year bond yield dropping like that are?
Is it a bet on the long-term feasibility of the markets? A prediction of long-term low interest rates? Or something else?
EDIT: I expanded the data range and it seems the 30-year bond has been in an overall state of decline since 1987 (9.87) to today (1.675)
the drop also lines up with similar plummet in Canada's 30-year bond, so it's not USA-specific