Loading ...2 yr. down 55 bips – 1/2%, 10 yr. down 25 bips
These are absolutely huge moves. They have to get SVB’s assets up in value, so they rally bonds like nobody’s business. What does that say about the strength of the major players though.
Problem is, now they are wiping out people who are short bonds, you can bet there’s a bunch of hedgefunds that have been short for a while now. Perfect, wipe out both sides.
The Fed has finally broken something.