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The Importance of Market Signaling
The notion that markets and the Fed what they're guiding for are just so completely divergent might not be the case anymore. What you're seeing in markets might just be hedge funds blowing up and illiquid markets, which means more levered players rushing for exits. This could be what's pushing yields so far so fast but it isn't necessarily new longs expressing a position that is exiting forced exiting arm twisting out of position.