Bonds are slumping today
Will 2018 finally be the year of the bond bears? That's been a prediction every year this millennium but it's been repeatedly dashed.
The imminent passage of the tax bill, along with downright bubbly sentiment, have the market thinking that companies will spend and wages will rise in 2018.
Of course, we've been there before and it's ended in tatters.
The beneficiary of any rise in US Treasury yields will be USD/JPY, which has been held stubbornly low by the bond market.
