The FOMC decides today, and the bond market has already made up its mind.
The 2-year Treasury yield, the cleanest read on where policy goes next, has been sitting above the Federal Funds Rate since April, and the gap is the widest it has been since November 2022. That is not the pricing of a market waiting for a cut; it leans toward the next move being a hike. A cut today would surprise most of that positioning, and it would sit naturally alongside the soft core inflation print this report flagged last week.
$NOT $BOND
#Bitcoin #MarketUpdate #BinanceSquare
The 2-year Treasury yield, the cleanest read on where policy goes next, has been sitting above the Federal Funds Rate since April, and the gap is the widest it has been since November 2022. That is not the pricing of a market waiting for a cut; it leans toward the next move being a hike. A cut today would surprise most of that positioning, and it would sit naturally alongside the soft core inflation print this report flagged last week.
$NOT $BOND
#Bitcoin #MarketUpdate #BinanceSquare