It's Time To MOVE and Follow The Leader

Bond volatility has been signaling stress under the surface.

However, the issue is not narratives but liquidity. Everything is a function of liquidity thus yields. When liquidity falls, the most liquid asset on Earth (U.S. treasuries) are sold for dollars.

Markets Spaz On "Hot" CPI, But The Dollar Is About To Rip; USDJPY

In the note above, I also talked about how the dollar was going to rip; and it has, up nearly f…