BTIG sees bond market 'news failure' as signal yields may have peaked, warns of 'pain trade'

BTIG says the bond market's muted reaction to hot CPI — the 30-year yield rising 8 bps initially then just 2 bps — is a 'news failure' signaling yields may have peaked. It sees a potential 'pain trade' with rates down, Nasdaq weakness and possible 'Red October'.

Detected & updated continuously · Source: Nebula