"A Break Could Be HUUUGGGGE": Citi On The Real Number That Matters For Yields

The benchmark 10Y Treasury briefly topped 3.00%... and then faded back under failing to resolve the ongoing debate whether the breach of 3.00% will unleash a liquidation panic or, alternatively, a buying spree. Of course, the importance of 3% is more psychological than anything, and is merely a precursor to the real question that matters: where do yields go from here (a topic we discussed yesterday).