The Debts of the Spenders: Treasury Intra-Day Update

I normally don't post intra-day developments. But this action has got to take the cake for sheer craziness. The chart below measures the spread between the 2 and 30 year Treasuries . Apparently, traders are pricing in substantial inflation w/in a few months.

But, as always, when one side of the trade gets crowded, the potential for a contrarian reversal increases. Bailout Ben might just live up to his name.