Treasury Bond Market Trends - The Treasury bond market had been relatively stagnant, except for a brief period in April [1] - The yield curve is steepening, with a six basis point increase this week [2] - Global rates are trending upwards [2] Technical Analysis of Yields - The 10-year Treasury yield experienced acceleration before plateauing in the low 430s [2] - Selling pressure intensified as yields approached previous highs around 430 [3] - Yields broke down after a weak jobs report, with the two-year yield showing a more aggressive decline than the 10-year yield [4] - The market indicates that the labor market is more influential on long-end interest rate trading than inflation concerns [4] External Factors and Comparative Analysis - Solid retail sales and import prices at 15-month highs were noted [5] - The spread between 10-year Treasury yields and German Bund yields (Tens minus Boons) is the closest it has been since early April [5] - German Bund yields are at their highest levels since the third week in March, approaching 280 basis points (280%) [5]