The Non Farm Payrolls Report was insanely strong, yet yields (interest rates) did not budge. Good economic news usually spikes yields because it means the Federal Reserve is more likely to raise interest rates. This was a perplexing disconnect. However, it appears as if it was a delayed reaction. Today yields are spiking. The 10 year yield is up 4.29% to 1.424%. The important factor for today is the strong reversal. This likely means a near term bottom is in rates. Thirteen Federal Reserve Presidents are speaking later this week. Based on today's price action in yields, it appears the market is starting to expect hawkish commentary.

Buying the ProShares UltraShort Lehman 20+ Yr (NYSEARCA:TBT) will give you exposure and profits if yields continue to rise. Notice the pop today is reversal the entire drop from Friday. This is a technical bullish reversal and tells traders more upside is likely the rest of the week.