This is VERY VERY odd.. 10yr yield virtually frozen for days then all off a sudden a spike.. IMO this is the Fed. "testing" YCC.. The bottom line is they want YCC, but in order to get it, they have to allow and even create high volatility in the debt market.
GM
Great stuff. Just like you've been saying. Engineered a problem and then watch how the market reacts and then provide a solution. All staged. Fed has another meeting coming up in a couple of weeks on 17.
CNBC : "Dow falls 300 points after Powell inflation comments trigger yield jump, Nasdaq goes red on year"
https://www.cnbc.com/2021/03/03/stock-market-open-to-close-news.html
Duh !