As a surging euro above $1.31 helps move US stocks higher and pushes Nymex crude oil through the $100 threshold, investors are fully embracing risk again. That has put Treasurys, which didn't sell off Thursday amid QE3's unveiling, in full-blown selloff mode today, with the 10-year yield jumping to 1.83%, right near 4-month highs. This market action is beginning to appear like a blow-off top is getting put in before a violent unwinding. But some non-bulls have been anticipating that for some time, so far to no avail. And today's US economic data probably won't be the tipping point.
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