“It’s been a crazy few weeks in the Treasury bond market.
After a big rally that began in mid-March, amid the outbreak of the Cypriot financial crisis and fears over a slowdown in global growth, Treasuries have given up all of their gains, and bond yields are now rising to the highest levels in over a year.
This morning, the yield on the 10-year U.S. Treasury hit a high of 2.23%.
Naturally, there is a lot of debate over where yields go next. Goldman Sachs, one of the prominent shops calling for higher yields, has published a call saying the sell-off in Treasuries is “for real” this time.
Despite hitting a high of 2.23% earlier, yields have since backed down to 2.15%, and bonds are now positive on the day.
And amid the wild price action, we’re seeing a massive amount of trading in the market…..”Twitter