10Y Treasury Yield Tops 3.00% For First Time Since Jan 2014, Curve Flattening Continues

Despite near-record speculative positioning short Treasuries across the curve...

Yields are rising, and rising fast with 10Y breaking  the 3.00% Maginot Line for the first time since January 2014...

After not quite getting there yesterday, today's selling finally pushed the 10Y over the level...

Meanwhile, 2Y Yields topped 2.5% - the highest since Sept 2008

Investors haven't been this pessimistic on benchmark U.S. Treasuries since February's sell-off in equities.

And as Bloomberg reports, fund managers who need to insulate their bond portfolios from higher yields are having to pay a stiffer premium for puts over calls now than at the start of the year.

For now, bond yields are running ahead of Jeff Gundlach's favorite indicator (Copper/Gold)...

But amid all the panic about rising bond yields... the yield curve continues to flatten on the day...