Treasury yields whipsaw as oil spike looms over Fed

Treasuries opened softer this morning, but Friday’s trading was nothing short of insane.

Processing Content

One thing happened, which did seem to make sense, the yield curve finally had a day of steepening, but that was about it.

After opening weaker in front of a shockingly soft jobs report, the 5-year yield dropped 7+ bps in the minutes that followed but went back up 8 bps to a new high for…