Treasury getting killed

Powell Sees Solid Economic Outlook as Rates ‘Just Below’ Neutral

Look, deposits exit seeking the one year treasury at 2.67%, nice number and as I pointed out earlier, the curve slope represents the cost of liquidity, quite low.

Treasury is getting killed, hit by the double whammy, rates up, QE sold off; at the same time.     The central issue, the Fed thinks Treasury has suffered enough for a while, doesn't want Trump to invert the curve.

It was an unfair move, raise IOER and reverse QE at once as that is not reverse order.