Treasury yields break higher today
Bonds are slumping today along with the gains in equities. That hasn't always been the case in the past two months as there have been some wide divergences.
The message today could also be skewed by liquidity or something I'm not seeing but fear and a flight to safety certainly isn't a factor. US 10-year yields are up 4.5 bps to 0.889%, which is the highest since the brief spike in June.
To me, this is one of the clearest signs of a blue wave. Democrats are far more likely to deliver a big stimulus spending package and rising yields suggest more supply and an inflationary impulse.
