Bond Market Forecasters Are Looking Like Idiots Right Now

Interest rates have been tumbling for three decades in the US. Early Wednesday, the 10-year Treasury yield tumbled to as low as 1.78% from 1.90%.

In recent years, most economists and interest forecasters have becoming increasingly convinced that rates are due to rally.

However, they've been proven wrong as rates have continued to trend lower.

According to economists surveyed by Bloomberg, the yield on the 10-year note is expected to end 2015 at 3.01%. Jeffrey Gundlach highlighted those calls in his latest presentation. See below.

Unless things turn around, that call is going to be a disaster.