Did you know the Pentagon has been inside your iPhone this whole time? Apple
never announced it. Nobody reported it. The truth about what's in your phone is
terrifying.



<[link removed]>

 




The chip in your iPhone wasn't Apple's idea → Click to learn
<[link removed]>

Сⅼіϲkhеrе and I'll reveal the shocking details. <[link removed]>



Did you know the Pentagon has been inside your iPhone this whole time?

Apple never announced it. Nobody reported it.

The truth about what's in your phone is terrifying.

Click here to learn more.
<[link removed]>
 



Сⅼіϲkhеrе and I'll reveal the shocking details. <[link removed]>

 


Today's Market Update For You
The Yield Curve Bear-Flattened After Warsh's Speech — the 2-Year Spiked 9
Basis Points While the 30-Year Held Flat — and That Shape Is the Bond Market
Saying the Fed Will Win the Inflation Fight This Time
The post-Warsh yield curve move on Friday was a textbook bear flattener: the
2-year Treasury yield spiked9 basis points to 4.32% — a one-month high, its
most policy-sensitive point — while the 10-year rose a modest4 basis points to
4.71% and the 30-year remained essentially flat at 5.19%. In curve language,
this configuration means the front end is repricing the Fed's near-term policy
path higher while the long end is not moving, which signals that bond buyers
believe the hikes Warsh is telegraphing will be effective: short-term rates
rise to fight inflation, long-term inflation expectations stay anchored, and
the yield curve compresses rather than steepens.

The contrast with a bear steepener — where both the short and long ends rise,
but the long end rises more — is the critical analytical distinction. A
steepener would signal that markets don't trust the Fed to contain inflation
over the long run, requiring compensation at every tenor for the risk of
sustained price instability. A flattener, by contrast, shows that long-term
buyers are comfortable holding Treasuries at current levels because they expect
the short-term tightening to succeed. The real signal embedded in Friday's bear
flattener is therefore credibility: the bond market is giving Warsh's inflation
commitment the benefit of the doubt on the long end, even as it reprices
near-term policy aggressively. That credibility is not guaranteed and could
reverse quickly — the 30-year has sat near a 19-year high of5.33% for much of
August, meaning long-end buyers are already demanding elevated compensation. If
a September hike materializes and August PCE data shows no progress on
underlying inflation, the 30-year could resume its rise and the flattener could
turn into a steepener, inverting the credibility read embedded in Friday's
curve shape.
The Bear Flattener — Treasury Yield Moves After Warsh


2-Year Yield+9bps → 4.32%One-month high; repricing September hike from 35% to
57% probability
10-Year Yield+4bps → 4.72%Modest move; intermediate term expectations adjusted
but not dramatically

30-Year YieldFlat → 5.19%Long end anchored; bond market crediting Fed with
inflation-fighting capacity
Curve ShapeBear Flattener — short end rises, long end stableBond market says:
hike is coming, and it will work
Bear Flattener vs. Bear Steepener — What Each Curve Shape Signals

Bear Flattener (Friday's Shape) Bear Steepener (The Alternative Risk)

Short end spikes; long end stable or fallingShort AND long end rise; long
rises more
Signal: market believes Fed hikes will contain inflation — credibility intact
Signal: market doubts Fed can contain long-run inflation — credibility at risk
Equities tolerate it: front-end yields rise but long-duration discount rate
stableEquities impacted broadly: terminal value discount rate rises across all
growth names
Dollar strengthens; gold and BTC decline — non-yielding assets repriced lower
If August PCE / Sep CPI disappoint, flattener converts to steepener — 30Y
resumes climb to 5.33%+
Friday's bear flattener is the yield curve extending credibility to Warsh on
the long end. That credibility rests on the next two CPI/PCE prints — not on
anything the Fed has yet delivered.
The equity market's relatively contained response to Friday's repricing — the
S&P 500 fell only0.3% despite a near-20 percentage point shift in September
hike odds — is also a function of the flattener. When the long end doesn't
move, the terminal value assumptions in DCF models don't change, which means
the present-value hit to equity multiples is limited to the near-term rate
increase and doesn't propagate into the multi-year growth earnings stream. This
is the favorable configuration for an equity market trying to hold Nvidia at$5
trillion in market cap: short-term rate pressure is digestible; a long-end
spike is not. The September FOMC meeting on the 15th and 16th will now arrive
with the data from August PCE and whatever additional inflation prints are
available — and the curve's interpretation of those numbers will determine
whether Friday's flattener holds or the 30-year resumes the climb toward its
5.33% August peak.

Sources: Benzinga · Reuters · Edward Jones · Yahoo Finance · CNBC


<[link removed]>

 

[email protected] is on TheRawCapital.com <[link removed]>
list because you opted in before the crowd caught on.

If we go quiet — look in promotions, updates, or wherever your inbox files
things it hasn't figured out yet.

Unsubscribe
<[link removed]>
. We'll part ways cleanly.

If something's off, you can reach us here <mailto:[email protected]>

254 Chapman Rd Ste 208 Newark, Delaware 19702.



Privacy Policy <[link removed]>


 

© 2026 Alpha One Marketers LLC. All rights reserved.