Bond Yields Are Puking...
The 5Y Treasury yield is down 25bps this morning.
Read that again... 25bps!
The entire Treasury curve is re-rating lower as recession risks soar (Manufacturing surveys look ugly this morning)...
The 10Y yield has plunged below 3.00% - now testing 2.80%... (and 5Y yields are also at 2.80%)
And market expectations for Fed hikes are tumbling while subsequent rate-cut expectations are rising...
A very dramatic difference from The Fed's Dot-Plot expectations...
Mr. Powell, you have a problem!...
Tyler Durden Fri, 07/01/2022 - 10:11