3 Margaritas: Do we need the extra juice?

Miss Market loves big round numbers

US 10 year above the crucial 4.7% level. We would absolutely not be surprised to see a 5% print soon. So far in 2025 all the macro action is on the rates world. Let's have a look at latest in terms of FFR, equity bond correlations, the yield curve, the "money on the side-line" myth and most importantly if we really need another rate cut boost.