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2-year U.S. Treasury yields are trading in a manner that reflects expectations of a December Federal Reserve rate hike, according to Nik Bhatia.
Bhatia also commented that there is a small chance of a 50 basis point hike, but considers the likelihood of no rate increase to be nearly eliminated. He added that an Anthropic IPO appears fully on track, and described the euro as a technical disaster, which he considers positive for the DXY index.
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Earlier this year, Bhatia said that Anthropic and OpenAI should pursue IPOs promptly due to potential changes in credit and risk markets. He has also written that France last defaulted on government bonds in 1848. Both topics add context to his recent market commentary.