Rates Going Up?

Interesting little note from ZeroHedge:

...Speaking of bonds blowing out, the US 10Y[ear bond] is now just 6 bps away from 3.00%, the widest since July 2011, and likely to breach the support level, taking out a boatload of stops and leading to the next big step spike in rates as the second selling scramble ensues....

It's worth remembering that as bond yields increase, equities take it on the chops. Of course, rates for mortgages and car loans will also rise...