US 10-year yields fall 8 bps from the highs
Bonds have been on the leading edge of the market for most of the week and they've just signaled trouble.
US 10-year yields have skidded from a high of 1.79% just after the bond auction, down to 1.71%. The speed of the move after the auction suggests that's not a coincidence with specs maybe waiting to get better levels on soft real-money demand.
Whatever it is, it bears watching as we flirt with the 1.70% level again.
Here is the 3-day chart:
