Massive Hawkish Reversal In Rate-Hike Odds Sparks Greenback Gains, Bond Bloodbath

Friday’s payrolls print started the panic, but the weekend’s reality-checks on what Powell said and what the market wanted to hear has sparked a massive resurgence in the short-term interest-rate market’s perceptions of The Fed’s rate-trajectory. The terminal rate expectations has exploded to its highest of this cycle and expectations for rate-cuts in the second-half […] Source