The Tell: Gross says this key bond level is a far bigger deal than Dow 20,000

Calls for the end of a more-than-three-decade bull market in bonds have been frequent of late. That has been particularly the case in the wake of President-elect Donald Trump’s victory over Hillary Clinton in November, which resulted in a bond selloff that pushed the yield on the benchmark 10-year Treasury note to around 2.60% in December from a low of 1.36% in July.

See:Deutsche Bank says 35-year party is over for bond bulls

Though that downward spiral for bond prices (yields rise as bond prices fall) has abated somewhat, prominent bond investor Bill Gross says the 10-year yield remains the most important factor in financial markets.

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