The short-end of the yield is up about 11 bp while the longer end is up an even more dramatic 22 bp on the day. Looks like stops on entrenched Fixed income positions are being liquidated and money is flowing at least partially into equities.
The market is telling us that it thinks the Bernank has his little deflation problem licked.
Gold is easing as the dollar recovers on today’s higher yields. down to $1403 from record highs of $1430 earlier today.
Yesterday’s 1.3246 low is next support for the euro.