Bondquake in Tokyo - Yield Spreads Hit Absurd Extremes, Something Has to Break

The 10 year

Japan 10 year loves breaking above those resistance areas and just squeeze and squeeze. Chart 2 shows the slightly longer term view, where the Japanese 10 year trades close to channel highs, but momentum is very strong to the upside, so why not a real overshoot. Note just how perfect the 50 and the 200 day have followed this move higher.