The surge in bonds has finally stalled.
If you don’t believe in techs, then you haven’t been looking at the 10-year yield chart. It broke the February lows yesterday and then crashed down to the next layer of support today at 2.47%.
US 10-year yields
From there, sellers have finally stepped in. The move in bonds has all the hallmarks of a short squeeze. Leveraged accounts got heavily short when the taper started with some traders waiting years for a signal to short bonds.
