Why Ten-Year Yields Tell a Different Story Than the Fed

From youtube.com/cmegroup

On Sept 17, the Fed lowered rates by 25bps. Inflation is sticky, retail spending is resilient, but labor data revisions pushed the Fed to act. The bond market’s verdict? Conflicted. Yields dropped immediately, then surged to new highs by the close. The signal is clear: inflation’s path is still uncertain.