June 10, 2022 12:44 GMT
Post-Data: Don't Blink, Bonds Higher Now
US TSY FUTURES
Seconds after extending lows, 30Y bonds gap bid/extend highs: 30YY went from 3.1884% high now at 3.0929%.
- Yield curves getting crushed: 2s10s -10.792 at 11.852; 5s10s -5.492 at -7.980.
- Implication: heavy short end selling on inflation surge has market expecting Fed to hike US into a recession.
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