With the inflationary implications of commodity prices gaining strongly in recent sessions and geopolitical risk fading (for now) there has been a set up for global bond yields to push strongly higher. Subsequently the US 10 year Treasury yield has suddenly spiked above 2.90% and to levels not seen since the FOMC rate hike in March. The speed of this rise has allowed the yield curve to steepen slightly (2s/10s spread has pushed out from 43bps earlier this week up to 47bps) and this has helped the dollar find a bid. How long this push higher in Treasury yields last for could determine the near term strength of the ... (full story)