YIELDS UP ACROSS THE CURVE AS THE MARKET PRICES IN A MINI HIKING CYCLE OF ABOUT 50BPS. PRIOR TO THE IRAN WAR, THE MARKET WAS PRICING IN A CUTTING CYCLE. FED WOULD USUALLY LOOK THROUGH NEGATIVE SUPPLY
Yields rose 50bps as market pivoted from cutting to hiking cycle after repeated supply shocks.
What changed
Why it matters
Yields rose 50bps as market pivoted from cutting to hiking cycle after repeated supply shocks.