I took the Treasury yield curves since 1953, and used an optimization model to estimate 10 representative curves for
monthly changes in the yield curve, and the probability of each one occurring.
If yield curves moving in a parallel direction means the monthly changes at different points in the curve never vary by more than 0.15 %, it means that
monthly changes in yield curves are parallel roughly 70 % of the time.
There is No Guarantee that the Index Level Will Decrease or Increase by 1.00 Point For Every 0.01 %
Change in the Level of the Underlying U.S. Treasury Note or Bond
Yield or U.S. Treasury Yield Curve: Reasons why this might occur include: market prices for underlying U.S. Treasury note or bond futures contracts may not capture precisely the underlying changes in the U.S. Treasury note or bond yield or the U.S. Treasury Yield Curve, as the case may be; the index calculation methodology uses approximation; and the underlying U.S. Treasury note or bond weighting is rebalanced mon
Yield or U.S. Treasury
Yield Curve: Reasons why this might occur include: market prices for underlying U.S. Treasury note or bond futures contracts may not capture precisely the underlying changes in the U.S. Treasury note or bond yield or the U.S. Treasury Yield Curve, as the case may be; the index calculation methodology uses approximation; and the underlying U.S. Treasury note or bond weighting is rebalanced mon
Yield Curve: Reasons why this might occur include: market prices for underlying U.S. Treasury note or bond futures contracts may not capture precisely the underlying
changes in the U.S. Treasury note or bond
yield or the U.S. Treasury Yield Curve, as the case may be; the index calculation methodology uses approximation; and the underlying U.S. Treasury note or bond weighting is rebalanced mon
yield or the U.S. Treasury
Yield Curve, as the case may be; the index calculation methodology uses approximation; and the underlying U.S. Treasury note or bond weighting is rebalanced mon
Yield Curve, as the case may be; the index calculation methodology uses approximation; and the underlying U.S. Treasury note or bond weighting is rebalanced
monthly.
This can be seen
in the chart below, which depicts the relationship between the excess
monthly return of dividend - paying stocks (represented by the S&P 500 Low Volatility High Dividend Index relative to the S&P 500 Index) to the
monthly change in the 10 - year Treasury
yield.