A Quick Reminder To Forget Stocks, And Watch The Only Market That Matters Right Now

Surging Treasury rates is really the only market story there is right now (that is unless you find day in and day out equity gains of over 0.5% to be interesting).

For some perspective on the move, here’s a 5-year look at the 10-year rate. As you can see, we’re pretty close to taking out our highs from the middle of last year. If we did that.

chart

Photo: Yahoo Finance

Now here’s a longer chart to remind you that in the grand scheme of things interest rates are still REALLY low, but we have had a succession of lower highs for decades now, and a break of that pattern will certainly get the market to pay attention.

chart

Photo: Yahoo Finance

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