Bond Markets Are Spooked By Larry Summers And/Or Hilsenrath

Treasury yields are breaking multi-year records as bondholders across the board sell their positions, and yields on 10-year U.S. notes climbed as high as 2.86% after taking in a 25.5 bps increase over the last week. This is the closest they have gotten to the last high reached in July/Aug 2011 when the Eurozone crisis was at its worst. Yields on 30 year U.S. notes are also as high as 3.87% today, as it seems more and more investors are convinced that the fateful Taper will materialize in the upcoming September meeting of Federal Reserve.

Bond market...

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