The 10-year treasury yield has spiked after a weak 5-year bond auction this afternoon.
Beyond the worrying bond auction, the reason behind the 10-year’s steady and now spiking climb may be a move into equities as investors push out in pursuit of more risk and yield. Just what the Fed wants.
Check out why SocGen is bullish on U.S. equities in 2011 >
The 10-year, now with a yield of 3.46%.
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