All developed bond prices are falling..........>

EGBS: All developed bond prices are falling. Excuses being given are the Yellen

comments, which is a little surprising given her short remaining tenure and

because she did not say much that was fresh. Perhaps, the comment about the

decline in inflation being temporary can be considered interesting but hardly a

revelation.

- German CPI also popped at at the same time, but given the State CPI numbers

this morning, the market move is a definite overreaction.

- Gilts continue to melt down with the 10Y up 10.3bp now. 

- Volumes were high in the move lower and stops were no doubt exaggerating the

movements.