IF THE FED CUTTING CYCLE IS OVER AS THE MARKET IS CURRENTLY PRICING, IT WOULD BE THE FIRST CUTTING CYCLE IN AT LEAST 60 YEARS WHERE THE 10YR ENDED UP WITH A HIGHER YIELD AT THE END THAN THE BEGINNING.

IF THE FED CUTTING CYCLE IS OVER AS THE MARKET IS CURRENTLY PRICING, IT WOULD BE THE FIRST CUTTING CYCLE IN AT LEAST 60 YEARS WHERE THE 10YR ENDED UP WITH A HIGHER YIELD AT THE END THAN THE BEGINNING. IN FACT THE LOW POINT IN YIELDS FROM THE LAST HIKE WAS ALMOST COINCIDENT WITH THE FIRST CUT. IRRATIONAL EXUBERANCE... — VIA @SIDPRABHU

Unprecedented 60-year data point: cutting cycle ending with higher 10yr yield, low coinciding with first cut.