All week long we’ve been hearing forecasts from the likes of JP Morgan and Goldman Sachs that US Treasuries had put in a millennial bottom and that all the risk was to the topside yield-wise.
Ooops. What difference a Fed makes. 10 year notes are down 15 to 1.91% in the wake of the Fed’s “ease ’til your eyes bleed” statement.
USD/JPY is bearing the brunt of that move, tumbling back to 77.65 from 78.28 two and a half hours ago.
