The recent strong run of yields higher and dollar strength has just taken a pause for breath this morning, but is it a turning point? For a while there has been a broad consensus in the market for longer term dollar weakness. However the sharp move higher in Treasury yields over the past few sessions has driven a sharp dollar rally in a move that is reverberating throughout financial markets. The US 10 year Treasury yield came within a hair’s breadth of hitting the psychological 3% level yesterday (with an intraday high of 2.998%). This has helped to propel the dollar through some key levels and trends on major ... (full story)