Update from the Bond Pit: The 10 things you need to know about the most important macro driver right now

The US 10YR: extreme oversold and in need for bear market consolidation

JPM: "The combination of the sharp move to higher yields, challenging year-ago comparisons, and the recent setback in risky markets leaves the 10-year note yields in extreme oversold territory on our cross-market regression model. Tactically the stretched conditions provide further evidence that favor a period of bear market consolidation".