render-version: 2 message-id: ll-2026-08-30@ledgerlines.example in-reply-to: - references-first: - from: Ledger Lines to: cc: - bcc: - reply-to: - date-ms: 1788067838000 subject: The bond market, again is-html: false surface: theme snippet: Rates did the one thing nobody had written a note about, which is nothing at all. Here is what that means for the long end. The full piece is on the site. This mail is the summary. list-id: weekly.ledgerlines.example auto-submitted: - precedence: - unsubscribe: one-click=false mailto=mailto:stop@ledgerlines.example url=- blocked-images: 0 --- html ---

Rates did the one thing nobody had written a note about, which is nothing at all. Here is what that means for the long end.

The full piece is on the site. This mail is the summary.

--- quoted: none --- --- text --- Rates did the one thing nobody had written a note about, which is nothing at all. Here is what that means for the long end. The full piece is on the site. This mail is the summary.