Short-dated Treasury yields are extending their rise from Friday's bloodbath as the collapse of the long-end of the term structure accelerates in early Asia trading.
2Y is back above the Fed Funds rate...
Source: Bloomberg
and 30Y yields are back below 2.00%...
... for the first time since March...
Source: Bloomberg
10Y yields are at their lowest since early March...
Source: Bloomberg
And Japanese equity markets are none too happy with Powell's policy error malarkey...
Source: Bloomberg
AsLance Roberts noted earlier,there have been ZERO times in history when the Fed started a rate hiking campaign that did not lead to a negative outcome.We suggest this time won’t be any different.