See what just happened there?
The Fed announced $600 billion of new bond buying, much of it focused on the short end of the curve. Yields on the long end -- where there will be very little buying -- have shot up.
Of course, that's great news for banks, which desperately desire a steeper yield curve in order to make money borrowing short and lending long.
And it kills savers, punishing those who would park their money in short-term safe vehicles (CDs, savings accounts, etc.), pushing them to go long.
And you can see nicely how the curve has moved on this chart comparing today to yesterday. It's a bit tough to see, but just note that the green line is today's, steeper curve:
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