Trading in Treasurys has been unusually muted in recent weeks, with yields traversing a narrow range. But to at least one strategist, this subdued action is evidence that a sharp selloff in the bond market—with yields inversely jumping higher—could be imminent. Ian Lyngen, an interest-rate analyst for BMO Capital Markets, says the 10-year Treasury yield TMUBMUSD10Y, +0.67% has traded in a range of eight basis points, or less than 0.1 percentage points, between 2.80% and 2.90% in the last 14 trading sessions since June 28. Lyngen said periods marked by such tight trading bands are “ultimately bond bearish as a theme,” he said, in a note dated Wednesday. “Our sense is that something dramatic is nearing on the horizon. This bias is in part due to the fact Treasuries so rarely trade in such a tight range for any extended period of time,” said Lyngen. via