The staggering run of bonds

The Fed is pursuing its core mission of full employment and tame inflation

The tricky part comes now-the pivot for rate cuts. Interestingly, it doesn’t seem as if the Fed is on the same page as the money and bond markets on the timing and magnitude for potential rate cuts.

It seems as though the Treasury may be preparing the market for a potential change in issuance sizes or duration at some point in the not-too-distant future, though that is admittedly speculative.