Despite near-record speculative positioning short Treasuries across the curve…
Yields are rising, and rising fast with 10Y breaking the 3.00% Maginot Line for the first time since January 2014…
After not quite getting there yesterday, today’s selling finally pushed the 10Y over the level…
Investors haven’t been this pessimistic on benchmark U.S. Treasuries since February’s sell-off in equities.
And as Bloomberg reports, fund managers who need to insulate their bond portfolios from higher yields are having to pay a stiffer premium for puts over calls now than at the start of the year.
For now, bond yields are running ahead of Jeff Gundlach’s favorite indicator (Copper/Gold)…
But amid all the panic about rising bond yields… the yield curve continues to flatten on the day…
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