Government bond yields fell this week as investors are reconsidering whether or not Trump’s economic policies will deliver a welcomed boost to job growth, inflation, and interest rates. With many investors wondering how all this will play out, interest rates benefited by heading lower. Other factors further pushed yields down, including geopolitical events in Syria, North Korea, and France (where two of the four leading presidential candidates are European Union skeptics). The 10-year U.S. Treasury closed this shortened Easter holiday week down at 2.237%, its lowest level since November.

We can make the argument either way for both higher or lower interest rates and so we remain cautious with a bias toward locking.