Remember what we said earlier? To wit, from “A Fed Hike Will Send Treasury Yields Higher Right? Not So Fast” posted just hours ago:
And my, oh my — if that happens and all of the shorts in the belly of the curve have to cover, it would be quite the spectacle.
Well, “we told you so”…
- TREASURIES SURGE AS FED MAINTAINS HIKE FORECASTS FOR 2017, 2018
- Treasuries advanced to session highs after FOMC median dot projections were left unchanged for 2017 and 2018 while median target for 2019 rose to 3% vs 2.875% in December.
- Treasury futures rally with 10Y higher by around 16 ticks following decision; 5s30s sharply steepens by ~5bp from near flattest levels since 2008