But more noteworthy to me is the 10-year treasury. I have provided a daily chart below that dates back to September, 2011. And what you’ll observe is that the 2.10% level, which has consistently operated as overheard resistance on yields, got blown through today. As always, we need confirmation in the next few sessions, and the trading channel started about a year ago is still in play for purposes of timing a potential reversal - but there is something to this price action, combined with the recent volatility in the JGB market, that seems to me to be significant.
