US 10-year yields are up 8 basis points from the lows of the day to 2.78% with most of the gains coming post-FOMC minutes. Thirty-year bond yields are up almost 10 bps to 3.90% — near the August highs (a time when the market thought a Sept taper was a slam dunk).
US 30 year yields
If the ‘smart money’ in bonds is worried, it could be the start of an extended rally for the buck. The place to watch, for me, is USD/JPY as it could really rip if 100.61 breaks.
