Today's round of US economic data was good and JPMorgan chief Jamie Dimon was upbeat about the consumer and credit. That's stoked the flames of the bond inferno as we turn the calendar into October.
There was some hope that quarter-end machinations were behind at least a portion of the bond wreck last week but the buyers aren't coming back. Today, 10-year yields are now up 10.0 bps to 4.67%, just 2 bps away from last week's high.
US 10y yields daily
The dollar is running alongside yields.
Many people have been calling the top in the US dollar but big, long-term moves like we've seen in the dollar don't tend to end in a whimper, they tend to end with a crescendo and that's starting to feel very possible. EUR/USD just broke through 1.05.
