Treasury yields are moving up again. Bond prices fell last week for the first time in a month as a few negative factors hit at once. The Supreme Court striking down Trump's tariffs is a major driver because it removes a source of government revenue, meaning the Treasury will likely need to sell more debt to fund the deficit. On top of that, inflation came in higher than expected and the jobs market looks solid. The Fed minutes actually showed some officials discussed hiking rates if inflation stays high, rather than cutting them. The 10-year yield ended the week at 4.08%. JPMorgan is bearish on 2-year notes and thinks the Fed holds rates steady through 2026. Also worth watching Blue Owl, as they restricted withdrawals from a private credit fund which is causing some worry about risks in that market.