The yield on the 10-Year Treasury is up 13 basis points today, to 2.63%.
Interest rates have been exploding recently — at their highest levels since August 2011.
The chart below, via Bespoke Investment Group, shows just how extended we are. The 10-year yield is up to 33.3% above its 50-day moving average, the farthest it has been above its 50-day in at least 50 years.
This just goes to show how quickly rates have been surging.
“Talk about extended!” exclaim the folks at Bespoke. “At what point does this see at least a short-term turnaround?”
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