The 10Y broke back into the channel it broke out of several weeks ago, primarily on the enthusiasm around the treasury secretary designate – a hedge fund manager – will keep the plates spinning for another 4 years.
Whether or not he will is another matter. But, for now, the algos believe it and the 10Y is back below 4.3% and VIX has extended its plunge to 22% in the past three sessions – sending futures soaring.
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