Mortgage Rates Explode, 2-Year & 10-Year Treasury Yields Spike, Monster Rate-Cut Hopes Doused, Inflation Fears Resurface: Yield Curve Before & After the Rate Cut

The Treasury yield curve un-inverted by another big step on Friday: The three-month yield has vacillated in the same range for the past 11 trading days following the drop after the monster rate cut. But longer yields surged, starting with the one-year yield, with rate cut expectations getting slashed, and with inflation fears returning.