in the bond curve (which disregards the low rollover ratio from Treasury) with frontend gaps showing over 100bp of hikes priced out to the 1y date. Kubilay's response mechanism tree shows further tightening fairly far down the line for CBT, especially with cash loan rates around 20% and credit growth do

in the bond curve (which disregards the low rollover ratio from Treasury) with frontend gaps showing over 100bp of hikes priced out to the 1y date. Kubilay's response mechanism tree shows further tightening fairly far down the line for CBT, especially with cash loan rates around 20% and credit growth do