Bond yields begin to tick higher again. Watch carefully

Keep an eye on yields as they tick higher.

US 10-year yields are now up to 2.04% after falling below 2% in early US trade. Yesterday’s high was 2.054%.

The long-end is leading today’s selloff but the entire curve is well off the earlier lows.

If rates continue to move higher, I would expect to see some USD buying. Though that trade hasn’t exactly played out to script in the past two days.