A key bond yield points to rate cuts on the horizon this year - but investors aren't sure if that's good or bad news

• The two-year Treasury yield has been falling but that's done little to juice the S&P 500, DataTrek says.
• The two-year yield reflects investor expectations for Fed policy moves. 
• That rate has been moving lower as investors anticipate rate cuts this year.

There is a "telling" decoupling between stocks and a closely watched Treasury yield that reflects how investors foresee the Federal Reserve moving on monetary policy, says DataTrek.