Today's mystery rise in yields
One explanation for the rise in Treasury yields today is that it's all about Japan. Talk of less QE there is weakening demand globally and pushing up yields.
This should also be a catalyst for some US dollar outperformance.
There's a lot of skepticism about the report, and it is only preliminary GDP, but if that number was out today and it was 4.8% versus 4.2% expected, then you would seeing USD/JPY significantly higher than it is right now.
