The big picture is still that 10-year yields are up 100 basis points (1 percentage point) in basically a month, so to see a 5- or 10-basis-point pullback is not a big deal. It's just a wiggle on the charts. You will get wiggles here and there, and whether it's driven by surprises in economic data, or in geopolitics, oil prices or stocks is anyone's guess.
Quotes about wiggles (3 Quotes)
When you put his arm that was not bitten into an uncomfortable position, he does try to move that into a position of comfort, ... He wiggles his toes. As yet, we don't have a sense that on any continuous basis he knows exactly where he is ... but he does respond to outside stimuli.
There is no realistic sign of economic weakness on the horizon and wiggles on Wall Street are, evidently, not causing much anxiety on Main Street. The confidence surveys cast doubt on the slowdown view.