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Good evening:
The markets opened strongly this week in hopes that Thursday’s CPI reading would be soft and convince the Fed that previous rounds of rate hikes had achieved the desired effect. The release met Street expectations, marking three consecutive months of downside reads. Yields dipped, with the 2-year falling to 4.151% within a couple hours of the release.
As Head of Research Tom Lee has previously noted, the 2-year is considered a proxy for where the bond market thinks the Fed...Enter your email and we'll send the paywall-free report directly to your inbox
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