The big story in markets over the past few weeks has been the sell-off in the Treasury bond market and the accompanying rise in bond yields to their highest levels in over a year.
Goldman strategists are out with a call declaring the sell-off “for real” this time after a number of false starts.
The chart below, via Global Financial Data, shows the 10-year Treasury yields going back to 1791, as well as concurrent activity in the stock market.
The chart isn’t granular enough to see the move over the past few weeks, but it does show the rise in interest rates since bottoming out about a year ago.
Just a blip, for now.