The US Treasury yield rate is being monitored very carefully at the moment. It is that one number that could shape foreign investment, the outlook for the rupee and the Indian markets. Recently, the 30-year US Treasury bond yield shot up to its highest levels since June 2007. As a result, the gap between the Indian and the US 10-year yields is at multi-year lows now. Most economists and market observers see this narrowing gap as a matter of concern.