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Trader: “Much More To Come” For Treasury Rally, Dollar Slump
Former FX trader Mark Cudmore was right.
And so were we.
Just hours before the Fed's "dovish", "just right" hike sent yields plunging across the curve, Cudmore said the following:
Fed rate increases should send Treasury yields up, right? It looks more likely the opposite is going to happen following the expected central bank rate rise Wednesday.
We added this:
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.
