US 10Y T-yield jumps to highest since April 2014

• The yields spike on signs inflation is rising.
•  The bond bear market is here?

The yield on the 10-year US Treasury note almost touched 2.8 percent; the highest level since April 2014 on evidence the inflation is rising.

U.S. Institute of Supply Management data released yesterday showed prices paid by US factories hitting a nearly 7-year high. Also, fourth-quarter labor costs increased by 2.0 percent. The numbers seem to confirm the Fed's inflation views, meaning the central bank might raise borrowing rates at a faster pace.

As of writing, the 10-year yield is hovering around 2.79 percent. A close today above 2.76 percent would confirm the bullish inverse head and shoulders reversal (bond bear market).