With the 20-year Treasury yield surging to 5.42% after a weak auction, fixed income yields are flashing clear warnings before tonight’s Fed decision. The CME FedWatch tool pricing ~ 90% odds of a rate hike means the market is fully bracing for tighter liquidity. While STI and regional equities are holding steady for now, high yields will keep pressure on risk assets. Don’t trade the immediate headline - watch for shifts in Fed guidance and dot plot expectations. Staying defensive on high-debt equities. 📈
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