Greece is the word. As the market becomes more convinced of a Greek “yes” on austerity, they dump safe-havens like US Treasuries. Yields are backing up dramatically, accelerating after a 5-year note auction.
2-year notes are up 8.3 bp, 5-year notes by 14 bp and 10s by 10 bp.
USD/JPY trades as high as 81.08.
