Treasury yields keep moving toward 3%; a panic at that point would be a good trade

If you’re looking for the next panicky market over-reaction moment, may I suggest keeping your eye on the yield on the 10-year U.S. Treasury? The yield keeps creeping up toward 3% what with worries about the Federal Reserve beginning to reduce its purchases of Treasuries and mortgage-backed assets at its September 18 meeting, Syria, the U.S. budget, and the U.S. debt ceiling.