Ten Year Treasury Yield Closing in on Yearly Highs

It will be interesting to see the response from the various FOMC governors should this critical indicator push ever closer to 3%. Their response or lack thereof will give us a good clue into the thinking of the broad committee.

You might recall that this summer, the rate spike elicited extreme nervousness and concern among the Fed governors who immediately began sounding a dovish tone on the economy overall and the bond buying program in regards to any tapering.

Remember, the Fed today left the door open to additional monetary stimulus should the economic data warrant such.