Apparently the Fed cannot have its cake (taper) and eat it too (maintain its iron-fisted control over interest rates) as the 10 year treasury bond has just hit 3%- a 52 week high and up 20% from its October lows under 2.5%.
Is the Fed beginning to lose control of the bond market (along with the correlated $600 Trillion IRswaps derivatives market)?
Via Yahoo Finance:
CBOE Interest Rate 10-Year T-No (^TNX)
-Chicago Options Follow
3.000 0.0130(0.44%) 11:05AM EST
|Day’s Range:||2.9810 - 3.00|
|52wk Range:||1.61 – 3.00|