Today’s 6.5bps surge in 10Y Treasury yields is the largest since November 20th as the Dow slides and USD rises on the back of better-than-expected ADP jobs data implying moar taper. With 10Y back to 3.00% (2.9987% to be accurate), mortgage rates are once again on the rise (despite the recent drop in yields); though for now, Treasury yields remain lower in yield on the year.
Biggest single-day rise in yields since mid-November…
Pressing up to 3.00% but remain lower on the year for now…
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/1X4lhHDN0TU/story01.htm Tyler Durden