BOND YIELDS= SOARING Yesterday's FOMC wasn't very notable- Powell & the Fed kept rates stable, but there was a hawkish tilt But given skyrocketing energy prices, yields have been soaring The 2yr is up 50bps since the war started, now about 20bps above Fed Funds Hikes ahead?

Remember, the 2yr is an indication of the market's expectations for what the Fed is going to do with policy rates If we close the week above 3.6%, the will be the first time the 2yr yield will close above the Fed Funds rate since February of 2023