George Goncalves, head of us interest rate strategy at nomura, argues that this could be the start of a bigger sell-off, largely depending on whether the us tax reform will eventually be approved. The bond market has been sceptical about the prospect of approval. Job lose is more common and greenies who are unemployed are pondering if their applications for loan modification will likely be approved. Actually, it is more challenging for unemployed homeowners to obtain their loans approved by lenders and the difficulty boosts the longer the homeowner continues to be without work. Yu 'ebao, the world's largest money fund, took only four years to achieve the equivalent of 10 years of development, with a maximum annual yield approaching 7%. But in its rapid development, there have also been a big wave of backwater, the most severe, from March 2015 to September 2016, the yield was down from 4.4 percent to about 2.4 percent. The earliest efforts were made in the areas of canning, Alexandria, munez and spaurous.