Treasury yield hit 2.66% overnight - #Bonds #recession

The bond market trade lower in the overnight session driving the yields on the 10 year towards 2.66%. At this rate, all the FED hawkishness will likely keep pushing the yields towards 3%, perhaps even 3.25%. As for the price, that means trading around 120.50 at the current rate with more downside pressure to get the price of bonds trading around 117.60 to the downside.