Perhaps in a mini-tantrum reaction to Japan’s ‘taper’ overnight, US Treasury yields are breaking out higher today with 10Y Yields solidly above the 2.50% ‘Maginot Line’ for the first time since March 2017.
The long-end is leading the way higher in yields and steeper in the curve in 2018…
The selling pressure is notable, especially considering just how net short Treasuries everyone already is…
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