Just as we predicted...
Tomorrow a steady stream of Fed speakers will be unleashed whose purpose will be to prep the market for a Dec rate hike
— zerohedge (@zerohedge) November 3, 2015 [2]
With just a few words, Yellen has pushed December rate hike odds from a 50% coin flip to a 60% confidence.
[3]
This has extended the selling pressure in Treasuries with 2Y at 2011 highs (and 5Y at 3month highs)...
[4]
And the entire curve surging, as the short-end underperforms...
[5]
Credit markets are getting very anxious...
[6]
Charts: Bloomberg