Guy Adami sounds off on market action.
Guy Adami on the 10-YR - "You're talking about a 17bps intra day move in something that should not move like that in a month."
Guy also discusses how he thinks the 2-YR is going to stay stubbornly high.
Guy Adami on the 10-YR - "You're talking about a 17bps intra day move in something that should not move like that in a month."
Guy also discusses how he thinks the 2-YR is going to stay stubbornly high.
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00:00 - Yeah, Guy, what's your take on the market action?
00:03 - Well, it's a bond market volatility,
00:05 which we've talked about literally for months,
00:07 and now everybody seems to be jumping on that bandwagon.
00:10 I heard it a few different times today.
00:12 I mean, Dan said 303.
00:13 I think 10-year actually got up to 307,
00:15 closed on the lows at 2.9%.
00:17 I mean, you're talking about a 17 basis point intraday move
00:20 and something that should not move like that in a month,
00:23 and I think that's somewhat remarkable.
00:24 And I think 10-year yields will continue to go down
00:28 somewhat counterintuitively
00:29 because of the reasons Dan just said.
00:31 Things are slowing down.
00:32 Yields going lower in this environment
00:34 is not a bullish signal,
00:36 and I think that two-year is gonna stay stubbornly high.
00:38 So I even was shocked at 9.1%.
00:41 I didn't see a nine handle.
00:42 That was not on my bingo card.
00:44 But what's even more shocking is the people
00:46 that still somehow have this belief
00:49 that these, I won't say geniuses, but I just did,
00:52 at the Federal Reserve,
00:53 can somehow navigate their way through this.
00:55 The bottom line is there's no shot of that happening.