10Y Yield Tumbles Below 1.00% As Liquidations Lash Stocks

As the short-squeeze malarkey accelerates this morning…

Source: Bloomberg

Funds are being forced to liquidate their longs to cover losses/margin…

Source: Bloomberg

And that is weighing on the broad market…

Which has put a bid under bonds, sending the 10Y yield back below 1.00%…

Source: Bloomberg

And the dollar is bid as overseas positions are unwound and repatriated…

Source: Bloomberg

It seems that all the cheering over soaring heavily-shorted stocks has an ugly unintended consequence after all. We are sure the regulators will be looking into this now.