Was today's drop in bond yields the circuit breaker we've been waiting for?

<p>The headline to this post is an immediate question that popped up when I read this from a Barclays note:</p><ul><li>“Surging real rates and a stronger dollar are unfriendly to risk
assets. Absent a circuit breaker to the bond market, equities may
continue to struggle, as rising x-asset volatility prompts more
de-risking and cash is the only place to hide.”</li></ul><p>Lower yields, and lower oil, added to positive sentiment that gave a boost to 'risk' in Wednesday trade. But, yeah, is this the circuit breaker a pause for the bears to regroup?</p><p>More:</p><ul><li>“The growth-policy
trade-off is tricky, as policy transmission works with a lag, so
central banks are unlikely to blink in a hurry, unless something
breaks. Meanwhile, markets are starting to pay attention to fiscal
risks, which means pressure on sovereign yields may be here to stay”</li></ul><p>Daily candles below, is that final one (Wednesday's) enough to signal a top is in? Let me know in the comments. Any other bond comments, technical analysis or otherwise, welcome also!</p>

This article was written by Eamonn Sheridan at www.forexlive.com.