Bond yields screamed higher this week with Big Ben signaling an end to the Fed's purchase of mortgage backed securities and unwinding of the 3 trillion dollar balance sheet. The 10-year was up a whopping 40 basis points over 48 hours, enough to bankrupt an unwary trader.
So where do mortgage and interest rates go from here? Do we see a quick 100-150 basis point move north if we break through last summer's top?
My opinion - Highly likely.
What are your thoughts?