CHART OF THE DAY: Interest Rates Are Exploding Again

US equities are headed for a big fall today.

And Chinese stocks cratered last night on People’s Bank of China tightness.

But the big story is, once again, the relentless move higher in US interest rates.

Just in the middle of last week, you had investors predicting that rates on the US 10-year wouldn’t surpass 2.5% in all of 2013.

Today, 10-year rates have blown past 2.6% They’re currently at 2.64%.

Bloomberg

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