Long-term yields are likely to continue to soar for as long as the Federal Reserve can convince markets it won't need to cut rates aggressively in the foreseeable future. Yet, the intensity of the recent rise in yields calls for a correction, which may come with a government shutdown at the end of the week. Before that, our focus is on the seven-year auction on Thursday, a tenor typically disliked by investors, which could accelerate the bond selloff but may also temporarily halt the rise in yields if investors' demand proves strong. As bonds continue to tumble, the US Treasury benchmark becomes more appealing, ... (full story)