as of Feb 18th...still short the 10 Year Note (Globex CME)...or has it hit the bottom?
I think you need to read some news.Quote from Pholeuon:
Hm, I think you are short on wrong exchange...

Take a look at the Five/Ten, Two/Ten, or Ten/Thirty spreads. The bond market is desperately worried about inflation. Market participants would normally be increasing their duration with expected lowering of rates. Instead, the market is shortening their duration due to expected inflation.Quote from TraderAnon:
Yeah, who be eating-crow when "crazy 'surprise' rate cut talk" minutes are released???
Quote from FullyArticulate:
Take a look at the Five/Ten, Two/Ten, or Ten/Thirty spreads. The bond market is desperately worried about inflation. Market participants would normally be increasing their duration with expected lowering of rates. Instead, the market is shortening their duration due to expected inflation.
I'll be the first one to cut bait if I'm wrong, but there's more going on here than a simple Fed target rate.