Large trade seen behind US Treasury yield spike that fueled speculation

Synopsis

U.S. Treasury yields experienced a sudden surge, sparking speculation about the cause. Theories ranged from a technical error, possibly a "fat finger" mistake in futures trading, to hedging activity related to a corporate bond issue. A massive sale of 10-year bond futures contracts was suspected, impacting the market. 

A spike in U.S. Treasury yields across the curve in the late morning session on Wednesday caused speculation about what was behind the move.

Some traders suggested it could have been a technical error, while others said it could have been due to an interest rate hedge for a corporate bond issue. Reuters could not verify the cause of the move.

https://economictimes.indiatimes.com/markets/bonds/us-treasury-yield-spike-in-short-span-fuels-speculation-about-cause/articleshow/123154607.cms