Sierra Investment Management: Surge In Global Bond Yields

Surge In Global Bond Yields by David C. Wright and Frank Barbera, Jr., CMT, Sierra Investment Management Sierra Investment Management’s David Wright, managing director, and Frank Barbera, executive vice president, have published their latest chart commentary looking at the recent “unusual surge” in bond yields. The two expound on the movement, noting: “In what appears to have been a crowded trade, the rapid unwinding of highly leveraged positions produced a mechanical margin call of sorts that rumbled across the global bond market.  This involuntary deleveraging was not produced by any specific news event or economic announcement, but looks to have…