Charts I’m Watching: Aug 12, 2020

Given stocks’ reaction to the bond market’s reaction to the PPI beat, it’s not surprising that the 2s10s has scurried back to the relative safety of 52 bps.

But, TNX has still broken out, and the market is justifiably nervous about the implications of higher rates. CPI comes out at 8:30. And, for the first time in a while, folks might actually pay attention to the Treasury budget numbers at 2:00.

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