Yield curve discourse getting messy. It's flat — not steep, not inverted in any meaningful way. The real story? Market's repricing what rates *should be* given current conditions, and some narratives are breaking down hard.

This isn't about "losing control" of the curve. It's about consensus shifting under your feet. When the market decides your thesis was wrong, it doesn't ask permission.

No Fed pivot. No rescue. Just price discovery doing its thing.