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From New York City for our viewers worldwide. Im Katie Greifeld. Bloomberg Real Yield starts right now. Coming up, a big sell off in bonds takes the entire Treasury curve briefly, about 4 percent as Fed officials stick to the script of higher rates on the way, the U.S. economic data still hot and still sticky. We begin with the big issue higher for longer. The Fed. Thats thats very data dependent is going to continue to hike. The job is not done. You got data that was incredibly U.S. centric and strong. I sure hope February doesnt look like what we saw in January. Higher for longer is where we are, where were going. Yields are already quite attractive, short and U.S. yields being extremely high. 10, youre just youll just docHub a cyclical high. We havent seen the degree of inversion that were seeing now in the past four or five decades. You have to position for what the Feds going to engineer, which is a hard landing. The whole debate about when Fed the Fed will pivot where c