Treasury market volatility described as roller coaster with yields ending week up only 4 basis points despite intraweek swings

Current yield movement driven by equity markets, with S&P futures and 10-year yields moving in sync

Global debt and deficit concerns driving yields higher in Europe, creating spillover effects to US Treasuries

Latent feeling in Treasury market that yields will remain stubbornly high due to global issuance and debt concerns

Equity markets influence Treasury direction - when stocks get sloppy yields go down, when stocks recover yields follow up