Market Update – Ugly, But Hoping For Short-Term Oversold Conditions To Kick In

3:02 p.m. ET While the 10-year yield seems to have topped for the day, the Fed-rate sensitive 2-year yield keeps climbing higher, which means that it’s popping investor’s overly exuberant (at this time) narrative of 4 more rate cuts than the Fed forecast for 2023, and bringing down the odds of a March rate cut….