US 10-year yields flirt with the highs of the year

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US 10 year yields daily

Given what stocks and economic data are doing, it’s starting to look like US 10-year yields could break above this range. Tomorrow is the US CPI report and I get the sense the bond sellers are waiting for some kind of green light. Given the price action, anything close to the consensus might be enough.

If that’s the case then USD/JPY should quickly follow to 150.00. However I wonder how much US stocks can withstand. My suspicion is that 4.3% or 4.4% aren’t a problem but 4.5% would be.