With long term treasury yields safely above 5.00% every one and their brother is seizing on the rise in rates. Round numbers are for journalists an easy thing to use as a hook for their stories. CNBC would barely exist without them.

The solid rise through these levels has convinced many observers that still higher rates are in the works. From a piece at Bloomberg.com:

“It's an important psychological level and the risk is rising yields won't end anytime soon,'' said Michael Rottmann, head of fixed-income research at HVB Group in Munich. `This could ultimately translate to further pressure on Treasuries.''

This move has also taken the hordes of economists who forecast these things by surprise:

The rise in 10-year yields may have caught most economists off guard. The median estimate of 70 economists surveyed by Bloomberg News from Feb. 27 to March 7 was for the yield to end this quarter at 4.80 percent, and peak this year at 4.90 percent.

Eddy Elfenbein at Crossing Wall Street has also noticed the move in the bond market. He presents (in a responsible way) the parallels between rising interest rates, higher gold prices and a surging stock market during 1987 and 2005-6. This adds up to a shift in the "market's attitude." Worth a look.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

Please see the Terms & Conditions page for a full disclaimer.