This podcast explores the recent movements in the bond market, including falling prices and rising yields. It discusses the impact of unexpected geopolitical tensions in the Middle East, the potential implications of the Federal Reserve's stance on longer-term yields, and the market's response to firmer-than-expected CPI data. Additionally, it explores the recent increase in Treasury bond yields and its impact on the market, analyzing the connection between the rise in yields and positive reports on hiring and consumer spending. The podcast also discusses the bond market's reaction to the September CPI number and debates treasury supply and demand, addressing the market's sensitivity to price data and whether it can digest the large deficits and treasury supply in the US.