NBS (nbs@noagendasocial.com)'s status on Saturday, 02-Sep-2023 05:19:50 JST

@mrman

Just funny to see such a wild move almost immediately reverse.

Unemployment hotter than expected: 2yr bonds get bought like crazy since this is dovish (supports Fed lowering rates)

Soon after, ISM factory index data surprise beats expectations, which is good news and therefore hawkish (supports Fed keeping rates high) so 2yr bonds get dumped (yield goes up)

2yr bills usually don’t move this much up or down, especially not intraday. Funny to see