Bonds are fixed income securities. They pay the amount stated on the bond. So as the price of a bond declines, that fixed payment is a higher rate of return. As a bond price increases, that fixed payment is a lower rate of return. So yields move inversely to the price of a bond. The 10-year Treasury Bond (or Note) is seen as the basis for all bond pricing. Treasuries are commonly seen as being the safest bonds to own. As such, they have the lowest yield. The FOMC's ongoing bond buying program is a blatant manipulation of the bond market, keeping bond prices high and yields low.