One more thing, long yields move lower in response to Christine Lagarde comments

I believe the key reason why the US 10 yr yield has rallied with yields a bit lower are in response to the bond rally in Europe with the ECB doing nothing but Lagarde said she is sticking to her Davos comment that the first rate cut could happen this summer. She is also talking about slower growth, moderating inflation and easing wage growth. She did though acknowledge the upside inflation risks, particularly with the Red Sea situation.