Treasury yields are going higher
The stock market may be confused as to way to do when the data for employment surprises to the upside in this environment but the bond market didnt! The collapse of the 10 year treasury note through that key 1.90% yield mark was a strong sign that the market believes the odds of rate hikes are coming. With that being said, the next ideal target for the Treasury note would be the 2%. Which should take us to about 126.50 to the downside. Bonds tends to move slow and break out fast, so if this is any indication, we could see this level tested relatively soon in the coming weeks.
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