POPA Reconrate of change matters more in bond yields. a huge sigma move will just cause the MOVE index to spike, credit spreads to widen. a slow…
rate of change matters more in bond yields. a huge sigma move will just cause the MOVE index to spike, credit spreads to widen. a slow grindy move reflects perhaps future growth/inflation expectations. Market is treading that line. https://x.com/BlakeMillardCFA/status/2103144174497239197
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