Treasury Market Had a Cow, Mortgage Rates Jumped, Wall Street Crybabies Clamored for Help, But the Fed Smiled Satisfied Upon its Creation – WOLF STREET

Junk bonds still in la-la-land as investors chase yield risks be damned.
The bond market settled down on Friday. And that was a good thing for the crybabies on Wall Street that had started to hyperventilate on Thursday, when the Treasury 10-year yield, after rising for months, and accelerating over the past two weeks, had spiked to 1.52%, having tripled since August.
By Thursday, all kinds of complex leveraged trades had been coming apart, and forced selling had set in. By historical standards,…

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