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Bond Blood-Bath Continues - 5Y Yield Nears Key Technical Resistance

The carnage in Treasuries continues as this morning's chatter from 'sources' about moar NIRP in Europe has seemingly sparked a sudden exodus from US bonds (even with stocks lower). Across the curve yields are up 4-5bps very suddenly - all testing (if not already broken) 2015 highs. Perhaps most critically for now is the 5Y yield which is surging towards 1.80% - a crucial level of resistance over the past few years.

 

The entire Treasury Curve is now higher in yield than at the end of QE3...

 

With 5Y pushing towards a crucial level...

 

Charts: Bloomberg