Courtesy of ZeroHedge. View original post here.
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…
Meanwhile, 2Y Yields topped 2.5% – the highest since Sept 2008
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…