Treasury Yields Spike Most In 2 Months; 10Y Closes In On 3%

Whether it is growth hopes or Taper fears, good-news was bad-news for bond bulls this morning as better-than-expected ISM and construction spending data jarred bond yields from already rising levels to their biggest jump in two months. With the 30Y up 11bps and back over 3.8% and the 10Y pushing 10bps higher in yield to 2.89%, the line in the sand level of 3.00% grows ever closer. Equity markets are unsure of what to make of it but appear to have a bias to the downside on this good-news-is-bad-news data but gold, silver, and crude oil is rising.

 

 

the whole complex is being sold...

 

And stocks are not happy...

 

Good luck to Verizon getting that $60 billion bond deal off anytime soon?

 

Charts: Bloomberg