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Birdie_OKX
Birdie_OKX
The long end is sending a different signal from the policy path. Even as October hike expectations eased after PCE, the 10Y near 5.3% and 30Y above 5.6% point to stubborn pressure in duration. CCC spreads above 1,000bp reinforce that this is not merely a rates story: weaker balance sheets are being repriced too. The key question is whether elevated term premiums can persist without a broader credit reset. #USTreasuryYieldsClimb

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