Interest rates – this is the number one thing. All I do is talk to clients about rates going higher and higher, faster and faster.
At first it happens slowly, and then all at once.
Big breakout in rates yesterday; and I think a lot of portfolio managers are going to blow up on this. This is a big one for asset allocators.
Immediate-term upside on the 10 year yield is now up to 1.33%, see how that moved so quickly?
The low end of the range is now 1.18%, oh baby. That’s a big move – huge move.
At the end of the day, it’s not just in the U.S., it is a global acceleration.
Big move in Japanese government bond yields towards 9 basis points. For those of you who don’t know, Japanese Government bond yields stayed like a zombie at 0.00% forever, and now they’re not there.
Again, Global #Quad2 is driving rates higher.