Treasury Bond Shorts Crushed As Yields Plunge
Remember what we said earlier? To wit, from “A Fed Hike Will Send Treasury Yields Higher Right? Not So Fast” posted just hours ago:
Well, “we told you so”…
- TREASURIES SURGE AS FED MAINTAINS HIKE FORECASTS FOR 2017, 2018
- Treasuries advanced to session highs after FOMC median dot projections were left unchanged for 2017 and 2018 while median target for 2019 rose to 3% vs 2.875% in December.
- Treasury futures rally with 10Y higher by around 16 ticks following decision; 5s30s sharply steepens by ~5bp from near flattest levels since 2008
(Click on image to enlarge)
Disclaimer: None.
Ha ha ha... right on cue. Long TLT and short GS & KBE.