After a very slow start on Monday, yesterday's month-end trading session proved to be more consequential for Treasuries with yields ultimately rising enough to make it back to the doorstep of the uptrend they'd broken out of only 2 days prior.  A picture is worth more than a sentence in that regard.

So is the new rally now over, and are we doomed to watch rates move steadily higher?  Wouldn't you like to know!  Wouldn't everyone like to know, in fact, because knowing the answers to such questions would mean knowing how the coronavirus situation would play out in the...