10Y Treasury yield just jumped 15 basis points in a single day—the biggest move in 17 months.
Last time we saw this? April 2025, "Liberation Day." This time? Just a random Tuesday in 2026.
Markets now pricing in another 25bp Fed hike in October. If they're really going to hike again, why didn't they do 50bp back on September 16th?
Wild part: 9 months ago, everyone expected the Fed to be cutting rates for the third time by now.
The speed of regime change in today's markets is genuinely stunning. From rate cuts to rate hikes in less than a year.
Bond volatility is back. This is the new normal.
Last time we saw this? April 2025, "Liberation Day." This time? Just a random Tuesday in 2026.
Markets now pricing in another 25bp Fed hike in October. If they're really going to hike again, why didn't they do 50bp back on September 16th?
Wild part: 9 months ago, everyone expected the Fed to be cutting rates for the third time by now.
The speed of regime change in today's markets is genuinely stunning. From rate cuts to rate hikes in less than a year.
Bond volatility is back. This is the new normal.