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This sort of yield volatility is not normal for a security — the US 10 year government bond — that serves as an important benchmark for the financial system, domestically and beyond.
It is also not desirable as it undermines constructive financial intermediation, harms the… pic.twitter.com/4xjzQPmKtX

— Mohamed A. El-Erian (@elerianm) November 2, 2023