The firm expects the Fed to rein in the rise in yields at some point
But until then, they expect the dollar to continue rallying until YCC is introduced and that the announcement will trigger the "start of a great bear market".
YCC was among some of the options touted ahead of Powell's speech yesterday but it certainly wasn't the right stage to be touching on any such actions - for now at least.
The upcoming FOMC meeting on 17 March is going to be a key one to watch for any messaging and views on the bond market. But until then, the status quo from yesterday may very well stay the course for at least another two weeks (or more).
