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The Weekly Fix: Shorts Squeezed; Fed (Kind Of) Buys Crypto Bonds

Bitcoin Conference Draws Cryptocurrency Fans To Miami
Photographer: Joe Raedle/Getty Images North America

Welcome to the Weekly Fix, the newsletter that cares about boring things like fundamentals. I’m cross-asset reporter Katie Greifeld. 

It’s been a counter-intuitive week in the Treasury market. Benchmark 10-year notes are poised for their biggest weekly gain in a year, with yields sinking to 1.43%. That rally picked up steam even after data showed that the U.S. consumer price index surged 5% from a year earlier, and 0.6% on a monthly basis in May. Both measures beat expectations.