Look Out: Market Reaction To Spending Deal, 10Y Auction Proves We’re Not Out Of The Woods

Ok, dammit. How many times have we said over the past 18 hours that it was just a matter of time before everyone gets over their fascination with the spectacle of the short vol. crowd bleeding to death in the streets on the way to stepping over the bodies and getting back to focusing on what caused things to go wrong in the first place, rapidly rising yields? I don't how many times we've said that since yesterday afternoon, but we've said it a lot. For instance, here's an excerpt from a post we