The really significant change this morning versus Sunday is that oil and yields are now confirming each other.
WTI around $88 is no longer merely testing the downtrend we marked yesterday. Our chart had the downtrend coming through roughly this area; holding above it converts the test into a breakout.
The next area I’d watch is $90–92, then much more important ~$96.65 level.
The fundamental problem for bonds is obvious: Brent ~$92/WTI ~$88 while yields are already breaking higher is precisely the combination that makes the Fed/inflation narrative nastier.