Courtesy of ZeroHedge View original post here.
The spike in Treasury yields this morning has triggered weakness in stocks once again this morning…
This is the second time this morning that stocks have broken down on a break of that technical level…
As we noted previously, if and when CTAs turn from sellers to outright shorters, accelerating the downward momentum in the 10Y price (and spike in yield), it may turn ugly fast, because as Morgan Stanley explained yesterday, while a slow push higher in the 10Y yield won't affect risk assets materially, "should that adjustment in rates occur more rapidly, all stock prices will adjust lower, perhaps sharply, rather than just go sideways."