Recognizing these are some unique circumstances, over the last week, expectations for next week's FOMC meeting swung from a near-certain +25bp, to 75% +50bp / 2

Recognizing these are some unique circumstances, over the last week, expectations for next week's FOMC meeting swung from a near-certain +25bp, to 75% +50bp / 25% +25bp, to 60% +25bp / 40% 0bp. Tomorrow, February's CPI data will be released which might help collapse this wave function. https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html https://www.cmegroup.com/markets/interest-rates/cme-fedwatch... 2-year US treasury rate has moved from 5% to 4% over the last few days: https://www.cnbc.com/quotes/US2Y https://www.cnbc.com/quotes/US2Y