US 10-year yields hit a fresh session high in rise above 1.56%

It’s been a quick move from 1.30%

US 10 year yields
The market is suddenly very concerned about inflation.
US 10-year yields are up 7.6 basis points today to 1.560% after chopping in the 1.55-1.52% range early in European trading.
I don’t rule out that some month-end flows or a squeeze is pushing this move too far, too fast. At the same time, there’s absolutely zero value proposition in getting paid 1.56% for 10 years in an inflationary environment.
Further out the curves, 30s are getting pounded even harder, up 9 bps to 2.095%. That’s from 1.82% a year ago. How many years of returns has that wiped out?
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