Bonds and stocks both selling off today.
US bonds are lower for the seventh consecutive day, with the decline accelerating for the seventh day.
It's a global phenomenon. It's not a big surprise to see periphery yields moving higher because of the drama in Greece but German 10-year yields have turned sharply higher in the past couple hours, rising above 0.50% from 0.42% earlier.
German 10-year yields
In the US, 10-year yields are up 5.4 basis points to 2.19%.
The last time we saw this swift rise in yields, it was evidence of bond trades being unwound and that spilled over into euro strength as hedges were taken off.
