This chart is just the worst.
Via Deutsche Bank's Torsten Sløk, this chart shows the decline in where Wall Street analysts thought the 10-year Treasury note would finish 2015.
Last summer, everybody thought yields were going higher and that the 10-year would rise to north of 3.5%.
By this month, Wall Street was still hanging onto its call that yields would rise, but had trimmed expectations to around 2.4% from today's yield of about 2.1%.
And so these projections simply followed the 10-year yield itself lower and re-based to call for higher yields from a lower starting point.
Said another way, the Street was wrong the whole time and never really admitted to it, even though they tried.
Deutsche Bank
And here's what happened to the 10-year note over that period.
.jpg)
FRED