fed cuts 50 bps. And Curve steepens

Fed surprise Rate cut steepens 2s30 yield curve as 30 years trade heavy but yet 2 rally. The simplest explanation is that a steeper yield curve indicates higher inflation expectations and to a lesser extent higher growth expectations. 2s 30 rallied 12% on Surprise rate cut announcement . Reminder that short end o Yield curve beholden to rate cuts longer end more to inflation worries.

No One likes dollar today,Spoos rallied almost 100 handles on news trading 40 handles of lows now.All eyes on Powell press conference at 10:00 CST.Trump happy with Cut but calling for even lower rates out of Fed

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