The Treasury Market’s Big Recession Trade Is Gathering Momentum
The bond market is zeroing in on a US recession next year, with traders betting that the longer-term trajectory for interest rates will be down even as the Federal Reserve is still busy raising its policy rate.
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### Instruction: The Treasury Market’s Big Recession Trade Is Gathering Momentum

### Response: The bond market is zeroing in on a US recession next year, with traders betting that the longer-term trajectory for interest rates will be down even as the Federal Reserve is still busy raising its policy rate.