Bond yields have been particularly volatile of late as markets struggle to understand the simultaneous impacts of inflation, which is being driven by the Russian invasion of Ukraine, supply-chain issues and rising inflation expectations, which collectively push yields up, and the increasing likelihood of a recession, due to recent outsized Fed rate hikes and expectations of more, a yield curve nearing inversion, and falling equities, which drive rates down. (Source: Dr. Elliot Eisenberg, the Bowtie Economist).

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