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TBNG_OKX
#US30YYieldBreaks5.6% The bond market may be flashing a warning that Fed odds aren't capturing 👀
October hike bets have cooled, yet the 30-year yield still broke 5.6%, its highest since 2002.
What caught my attention is the leverage underneath. Hedge funds held about $2T in cash Treasuries, with some tied to basis trades.
If volatility forces deleveraging, this stops being just a yield story. It becomes a liquidity story, and stocks, gold and BTC could all feel it.
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