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by HWR_14 1195 days ago
I don't know anyone who expected sub 50 bps raises each quarter for a while now.
1 comments

SVB bought those assets 2 years ago, prior to the yield curve inversion or any of the current macro conditions. Also, the last rate hike was 25 bps, and early in 2022 people were expecting a slowdown to 0-point hikes by now. Prognosticating about this stuff to price long-term fixed-income vehicles is tricky.