BREAKING: The 10-year note yield is now up 90 basis points YTD...

BREAKING: The 10-year note yield is now up 90 basis points YTD and nearing 4.70% for the first time since November 2023.

As treasury yields rise, we are seeing further pressure on stocks and other risky assets.

Meanwhile, the base case now shows just 2 interest rate cuts in 2024.

Higher for longer is officially back and interest rates are surging quickly.

We will likely see 8% mortgages return soon and credit card interest rates will cross above 25%.

What happened to the Fed pivot?

https://x.com/KobeissiLetter/status/1780233729316720939

..and what did Benny Hill* reminded us that we should not assume anything because when we do, it makes

ASS U ME

* many Millenials may not know of Benny Hill, the jokes I am sure they no longer find funny.