Bonds Becoming Unglued As Gold Drops Below $1200, Lowest In 6 Months

Despite yesterday's somewhat lackluster response, treasury bond yields are breaking bad this morning with 5Y up 13bps from the Fed taper (and 10Y at 2.94%). But it is gold (and silver) prices that have been monkey-hammered with the former trading below $1200 - its lowest in 6 months.

Gold is tapering...

and interest rates are displeased...