Yield Curve Steepens At Fastest Pace Since 2008, Bonds Cheapest To Stocks In 7 Years

On the heels of near-record long speculative positioning, the long-end of the US Treasury yield curve continues to carnage, with yields at their highest since November's FOMC levels. The yield curve is steepening drastically - up 16bps in 3 days (the biggest percentage surge since Dec 2008).

 

30Y yield surging...

 

The yield curve has steepened to its steepest since November's FOMC minutes...

 

This is the fastest steepening since the election...

 

But most critically, this surge in yields has made bonds most attractive relative to stocks since late 2010...

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