One Bank Throws In The 10Y Towel: A “Suckered,” “Reluctant,” “Half-Hearted,” “Failure”

Well, we saw this coming last week. Recall that exactly seven days ago, in  "One Bank Warns: 'The Market Is Vulnerable To A Risk-Off Trade,'" we highlighted a note from Deutsche Bank's Dominic Konstam and co. who delivered the following assessment on rates: We believe that despite considerable local stability, the market is vulnerable to a risk off trade. We see an asymmetric risk between rally and sell off. Specs remain significantly underweight duration and, in our view, a bull flattening r