A two-day surge pushed rates on the Ten-Year past three prior peaks, two of them daunting ‘externals’.  This amounts to a quite powerful impulse leg, presumably with enough power to challenge the 4.69% high recorded in mid-May.  The usual idiots will debate how many Fed governors can dance on the edge of a cow patty, but that won’t alter the fact the market forces are putting significant upward pressure on Treasury yields.  The short-term technical picture suggests they will reach a minimum 4.73% over the next 2-3 weeks, but 4.82% is possible,