Treasury Yields Spike To 1-Month Highs as Yuan Tests Cycle Lows

Writer at ZeroHedge • Jul 23, 2018 at 11:28 AM EDT

Having decoupled three weeks ago, the spike in Treasury bond yields in the last two days has erased the divergence between stocks and bonds with the former trading at one-month highs as offshore yuan pushed back to cycle lows.

Having decoupled three weeks ago, the spike in Treasury bond yields in the last two days has erased the divergence between stocks and bonds with the former trading at one-month highs as offshore yuan pushed back to cycle lows...

Lot of chatter about the bond move - coincidental timing as Trump starts lambasting China for currency manipulation? Or is it rate-lock positioning ahead of a heavy calendar week?

For now, Yuan just keeps falling...

Diverging from the 10Y Yield...

So China blowback or algo-business as usual?

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