U.S. bond prices were higher premarket following the carnage yesterday, when the 10-year yield rose 15 bps to a 13-month high of 2.16%. Maybe more troubling for those borrowing short and lending long was a 12 bp jump in the 5-year yield to 1.01% (its up from 0.65% in a month), and a 4 bp pop in the 2-year yield to 0.28%.
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