Make sure you kiss your wife and tell her you love her before you go into the office. Because you’ll be jumping out of a window by lunchtime.
Shorting bonds has been an absolutely calamitous trade and with 10-year yields down another 5.6 basis points today, it’s another disaster for the shorts (who bet on higher yields).
The bond market was looking for something hawkish from the Fed to push yields higher. With the latest breakdown, USD/JPY is under pressure and is trading at a session low at 101.22.
