From the Desk of Ian Culley @IanCulley
Borrowing costs are increasing, and US Treasuries are tanking – again.
Everyone knows it. Even my therapist commented on interest rates and the “terrible” economy.
The 30-year T-bond has hit our initial target. And the 10-year is within striking distance.
So much for limited downside risk for the bond market. Perhaps the call for a 5.25 print on the 10-year yield by Christmas wasn’t aggressive at all.
But elevated yields aren’t the problem…