Courtesy of ZeroHedge. View original post here.
Submitted by Tyler Durden.
It appears Janet Yellen’s confidence-inspiring testimony that juiced stocks was interpreted as a buying opportunity for bonds. US Treasury yields are now down 10bps on the week with 10Y yields back with a 1% handle…
10Y hits 1% handle once again… after 8 days above it…
It appears – judging by the long-end of the bond market – that the market thinks the Fed is about to make a big policy error…
And as 10Y broke 2% so stocks tumbled…
Charts: Bloomberg