Goldman Sachs on rising Treasury yields: 'It's for real'

Goldman Sachs on rising Treasury yields: 'It's for real'

Strategists at Goldman Sachs GS +0.46%  haven’t taken the May bond selloff lightly. After all, they were the ones suggesting back in April that investors short the 10-year Treasury note 10_YEAR +1.75%  when it was trading at 1.79% (seems like so long ago, doesn’t it?). Now it’s trading at 2.14%.
That projection of rising Treasury yields, though not their first call to short the Treasury note, proved to be largely accurate. Now they are back at it, hammering in that the selloff is “for real”. Here’s what they say, per a Wednesday note: