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10Y Treasury Yield Craters Back To A 1 Handle

It appears Janet Yellen's confidence-inspiring testimony that juiced stocks was interpreted as a buying opportunity for bonds. US Treasury yields are now down 10bps on the week with 10Y yields back with a 1% handle...

 

10Y hits 1% handle once again... after 8 days above it...

 

It appears - judging by the long-end of the bond market - that the market thinks the Fed is about to make a big policy error...

 

And as 10Y broke 2% so stocks tumbled...

 

Charts: Bloomberg