TMTB EOD Wrap

Note: We will be on vacation April 13th-April 20th and there will be no posts during that time. Here for more detail.

Good afternoon. QQQs -87bpss as the hotter CPI print caused yields to spike (2 year +21; 10 year +19bps). The market is only pricing 50/50 odds of a rate cut in July now with only ~43bps worth of reductions priced in for the year. The ho…