10Y Treasury Yield Tops 3.00% Later Surprise Render Increase

As foretold past times the prophesy:

"..It's possible that the tariff-and-currency nation of war of 2018 slows things downwards plenty that the Fed pauses, stops bumping upward the brusk goal or that Treasury issuance is large plenty to elbow grease the long goal higher simply for correct now, this is where we're at..."

—Signals From the Yield Curve: It's the Long End That Gets You, July 22

I know we've gotten a fleck obsessive amongst the whole "the yield bend does non matter" simply it is important. The recession chatter is early, if non apartment wrong.
We'll accept unopen to ideas if together with when the bend matters for equities together with the economic scheme simply correct at i time at that topographic point are to a greater extent than pressing concers.

From ZeroHedge: 

10Y Treasury Yield Tops 3.00% After Surprise Supply Increase

As nosotros noted here, the Treasury announced it would raise the amount of long-term debt it sells to $78 billion this quarter, upward from $73 billion concluding quarter, piece launching a novel two-month bill. 

The surprise is that whereas consensus had expected 5-year auctions to increment past times $1 billion inwards the quarter, the Treasury volition at i time increment the auction amount past times $1bn every calendar month inwards the quarter, for a full of $3 billion, which inwards plow volition set extra pressure level on the belly of the curve.   

And that extra provide has prompted weakness across the Treasury curve, pushing 10Y Yields dorsum inwards a higher house 3.00% for the commence fourth dimension since The Fed hiked rates inwards June..

And the yield bend is steepening...

All of this ahead of The Fed this afternoon.

Sorry most the "prophesy" bit, I intend I was channeling the guy inwards 2011's "Peak Oil Stalwart to Shutter Forum/News Site, Persue Career every bit Astrologer"