T-Bonds: Weather or Climate?

Hmmmm.

10-year notes fell for a seventh day, the longest losing streak in more than five years, before U.S. reports forecast to show claims for jobless benefits declined and a regional index of manufacturing improved.

Benchmark yields climbed to the highest level since October as a gauge of the inflation outlook increased to a seven-month high, damping demand for fixed-income securities. Government bonds around the world have slumped this week as the Federal Reserve raised its assessment of the U.S. economy and said strains in global financial markets have eased. 

Could be just a short-term swing.

Or it could be that ObozoNomics are shifting into Phase Two: inflation.