Much gnashing of teeth has accompanied the 10-year Treasury yield through the psychological 3% mark recently, but there is a far more important number in financial markets to watch - and it is a relatively less exciting 2.5%.
While the 10-year reaching its highest yield since 2014 has garnered much media attention, it is the yield on the two-year (effectively a cash proxy at 2.49% - the highest since August 2008) that may have...
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