The 2Y Treasury yield is down 45bps from yesterday’s highs…
That is the biggest 2-day drop in the 2Y yield since Lehman (Sept 2008)…
Source: Bloomberg
The market’s expectation for Fed moves has shifted dramatically more dovish with the terminal rate tumbling by over 40bps and a full 25bps rate-cut now priced-in by year-end…
And gold is seeing huge safe haven inflows…
Will The Fed break its blackout window to soothe market fears?
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