fed decision june 17

Fed's rate decision tomorrow, and the market is already pricing in a hold with a hawkish tilt. Real rates have been climbing this week, which isn't great for risk assets. The 2y yield is holding above 4.1% while the 10y is creeping back toward that level — the curve is steepening, and that's a sign the market is betting on tighter policy for longer. Not a huge panic, but it's a slow bleed. I'm staying in cash for now. No point forcing a trade when the macro setup is this uncertain.