An avalanche of hawkish Fed speakers appear to have got their way as March rate-hike odds have extended yesterday's move to 82% this morning. As stocks soar after a more presidential Trump, bond yields are also rising, catching up to stocks after diverging for two weeks.
From 24% to 82% in 3 weeks… did the economic data shift that much?
Umm no…
Stocks are soaring…
But while bond yields are higher – 30Y above 3.00% – though the move is fading now…
2Y Yields are the highest since 2009. The yield curve has collapsed to its flattest since 2008…
via http://ift.tt/2md2YEm Tyler Durden