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A volte face in Treasury yields has improved investors' mood considerably this week as excitement about U.S. disinflation builds despite conflicting signals from around the world.

Fundamental reasoning for Thursday's volte face seems thinner, not least with money markets now seeing the Fed's peak "terminal rate" up another 25 basis points next year and homing in on 5% - which would be the highest policy rate since 2007.

U-turns are clearly in the air this week, with Elon Musk's volte face on buying Twitter on Tuesday following Britain's top rate tax cut reversal and this week's new-quarter relief bounce in stock markets.

The volte face came after a record-high euro zone inflation print.

"There is growing evidence of the fact that you technically do not need that much data, which is kind of a volte face on all of the transgressions that have happened in the past few years," said Prabhu.