The yield on the 10-year U.S. Treasury note is at new highs following the release of better-than-expected initial jobless claims data at 8:30 AM.
Right now, the 10-year yield is up 8 basis points from yesterday’s close to 2.79%, above the previous high of 2.74% seen at the culmination of the bond market sell-off on July 5.
Meanwhile, gold is also getting crushed. The 8:30 data knocked $US15 an ounce off the price of the shiny yellow metal instantly before it bounced a bit. Now, it’s down around 0.7% on the day, trading around $US1323 an ounce.
The chart below shows gold this morning.
The next chart shows 5-year Treasury futures.
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