This (Wednesday) morning's hotter-than-expected inflation news has long-term yields spiking once more; the bellwether 10-year Treasury note has moved up to the 2.9% area. BUT after an initial very negative reaction, the markets embraced this news and rallied anew, with stocks and commodities both surging.
For now, this is the most proper response. Yet I start the discussion in this commentary (link above) as to why long-term interest rates are likely to peak in 2018. Further, I give you a complete road map as to how to manage your portfolio now, for our new two-way market, as well as with an eye toward the inevitability of an end to central bank (chiefly, Fed) "normalization."