Taper tantrum or inflation burst hitting bonds?

Via Cornerstone:

Long-term Treasury yields have risen sharply since the beginning of the year, as we know. The ten-year rate is up 22 bps; the vast majority of the increase happened starting on January 5th.

•The move is also outsized by historical standards: Ten-year yields have moved on net more than that on any othe reight-day period only 1.6% of the time since 2010 (the low-rate era).

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