30Y Treasury Yield Bursts Above 3.00% After Mnuchin Comments

Following comments by Treasury Secretary Mnuch this morning that ultra-long bonds could "absolutely" make sense for America, the Treasury curve has jumped and steepened dramatically...

 

With 30Y yields back above the 3.00% Maginot Line.

 

Following the biggest short-squeeze in history... In fact the stunning swing in sentiment in the last 8 weeks (with almost $62 billion in 10Y Treasury shorts dumped) is shocking to see, smashing Speculative Positioning from its shortest ever to its longest in over 9 years...

 

It is perhaps not entirely surprising that sell-offs are a little more aggressive than normal.