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He said every Treasury security whose yield was below the 6.5percentt federal funds rate was vulnerable.
The bellwether 10-year Treasury note, whose yield was down to 5percentt a week earlier, gave back some recent gains and the yield climbed to 5.10percentt.
An article on Wednesday about growing fears of a major bank failure in Europe misidentified the Treasury security whose yield recently touched a record low of 1.9 percent.
Maize, which has had by far the most genetic research, is the only crop whose yield is growing by more than that.
But surely this is not a very serious problem for a university that each year turns away hundreds of high school valedictorians and whose yield (the percentage of admitted applicants who enroll) is around 80percentt.
Brazil has led the way in demonstrating the potential of ethanol, has the land to expand the industry, uses sugar-based ethanol whose yield per hectare is eight times that of U.S. corn ethanol being developed at the cost of higher food prices and has shown the feasibility of a flex-fuel auto fleet.
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There was some relief for Spain and Italy, whose yields fell back to 5.7%and5.4%4% respectively.
MR. BENT warns that managers of funds whose yields are flirting with zero may be tempted to become more venturesome to stay competitive.
Like more traditional models, they maintained a large allocation to fixed income, but weighted it heavily toward Treasury inflation-protected securities, or TIPS, whose yields rise with inflation.
The higher yields means that the Portuguese government has to pay significantly more interest than, for instance, Spain, whose yields on 10-year bonds were around 4.98 percent on Monday.
By selling short-term bonds, whose yields would stay close to zero thanks to the Fed's rate commitment, it could boost holdings of longer-term issues, pushing their yields down further.
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