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But we saved everything 🙂.
The U.S. 2-year yield experienced a move greater than 4 sigma today.
Jens Nordvig highlighted the unusual scale of the movement, noting that it is not gaussian in nature. He raised the question of who could potentially support a 50 basis point move beyond Waller, mentioning policy makers such as Hammack, Logan, Cook, and Kashkari as possible candidates, though he indicated that not everyone is likely to support such a move.
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Nordvig has previously outlined key discussion topics for global clients, including French debt and AI capex. He has also noted that French news is typically seen as temporary by markets. These earlier comments provide context to his current focus on large yield moves in the U.S. market.