Hello, fellow rural capital. So hope you're well. So we had the big CPI report come out this morning.

We're going to dive into that. And what's shocking about the CPI report is the reaction with interest rates in the treasury market.

They shot higher. According to CNBC, or at least the thumbnail, they skyrocketed.

I think that is an accurate way

to say it. In fact, the 10-year treasury has moved 10 basis points just in the last couple hours.

So we've got to go through this CPI report, say, what on earth is the bond market actually seeing? Now, before we get into this,

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All right. Let's get into, let's start with yields. I think that's important. So we're going to go

over to the 10-year treasury and see this action. Now, you see it's up five point, I'll call it 5.3

basis points. But look at where it started before we got the report. We're right down at

4.40. So as you can see, almost a 10 basis point move. Now, this is, this is not as extreme as we saw

during retardation day or what do they actually call that liberation day there you go but but to say

that it's not as extreme well sure but this that was like a GSGFC level of extreme or like Silicon

Valley bank or something like that or surveys a sickness this a 10 basis point move in a couple hours in the 10 year.

That's skyrocketing right there.

There's no other way to really describe it.

Okay.

So why is it doing this?

I mean, did the CPI come out hot?

Did the CPI come out at 5%?

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