Clearly, all markets aren't all in on the Fed and the ECB's (European Central Bank) stated view that the present level of inflation, while not abating as soon as they had anticipated (prayed), is "transitory." Rate hike odds -- more and sooner than previously priced -- are being priced in to a degree that is beginning to play havoc with yield curves.
Here's our chart of the 2yr/10yr treasury yield curve:
"The big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend."
Have a great day!