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Yields, Stocks Jump ahead of FOMC min, while GBPUSD rises the most in a month, as BREXIT risks fade

Shortly after the open, we've seen Bond yields start to rip higher, with German Bund yields going from 14 to 18 bps very quickly & US TY YIELDS also hitting 1.82, up in just a few days time from 1.70-  Today's FOMC April minutes might very well be important in either allowing this move to continue, as the market feels caught off guard and behind the curve or reversing course, in both Yields and the USD-  But make no mistake, a very sharp selloff in Treasuries that will have to be watched carefully in the days ahead.  S&P has reversed early losses and now higher by 5 points, while breadth about even in Advancing to declining issues-  Financials leading the charge in Sectors, higher by over 1.3%, the only major sector higher by 1%, while Utillities, and Staples are both underperforming.  See charts of Yield and SPX below

 

German bund yields have skyrocketed this morning, while TNX also is now above 1.81%

SPX, despite the menacing H&S pattern, does have fairly large Ichimoku cloud support direclty underneath, so this will be worth watching in the days ahead, with any breaks of support of 2030 likely leading only down to 2007-8 and proving shortlived

 

British Pound meanwhile, jumping the most in a month vs USD as Brexit fears fade?  A good technical move today to multi-day highs for GBPUSD