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Sharp Sell-Off In About Turn On Policy Not Too Tight

US TSYS
  • Tsys sell-off swiftly, seemingly on Powell saying evidence is that policy is not “too tight” right now.
  • 2s have now fully reversed the initial rally, 10Y and 30Y yields have touched fresh cycle highs.
  • 30Y currently +9.1bps at 5.08% vs near unchanged pre-Powell.

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