Massive squeeze?
It's tough to interpret what the bond market is saying today. Certainly there is a flight to quality in stocks. One reason is that the Fed's Williams was especially hawkish today. Yet that kind of talk should push up yields. However, there's an inflection point where the market reverses if it things the Fed is hiking too much.
Is that what we're seeing in bonds?
Alternatively, you could make a very coherent case that this is all about China and worries about a trade war.
