When the 2yr UST spread to Fed Funds Effective Rate goes this negative, it is a strong sign that rate cuts are imminent (and so is a recession).
Discussion
lets wait n see - data based decision or fed sponsored election circus
BoJ hiked rate then was jawboning - few others hiked a bit also.
They are going to say any and everything before they finally break and admit we are in a recession. Hell they may never lol