2-Year Yields continue to par some of yesterday's losses, now up 16bps today, having fallen ~61bps yesterday in the largest one day decline since 1982. That leaves cash tsys sitting 16bps cheaper to 3bps richer across the major benchmarks, the curve has twist flattened.

In Fed dated OIS, there is now ~20bps of tightening priced into the March Fed meeting with ~75bps of cuts priced by December 2023.
TYH3 deals at 114-09, -0-12, a touch off session lows.

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In Fed dated OIS, there is now ~20bps of tightening priced into the March Fed meeting with ~75bps of cuts priced by December 2023.
TYH3 deals at 114-09, -0-12, a touch off session lows.

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