by Mish Shedlock, Mish Talk:

If you are a bond market bull, it’s been a tough month. Let’s review what happened, why, and what’s ahead.

Yield Change In Past Month

• 2-year: +49 Basis Points
• 5-Year: +55 Basis Points
• 10-Year: +46 Basis Points
• 30-Year: +38 Basis Points

And to add more injury, 30-year mortgage yields rose from 6.87 percent to 7.37 percent as of yesterday, down to 7.30 percent today according to Mortgage News Daily.

That’s a rise of 43 basis point from a month ago to today.