We have seen a wild ride the last few weeks in the March 10-year note, with yields rising to a two-year high overnight to 1.90%. The rise is largely driven by continued strong readings from the CPI, strength in oil, and hawkish comments out of many of the Fed governors. Additionally, many of the Fed speakers are now nervous that the Fed is behind the curve and some are calling for four rated hikes in 2022.    That is an aggressive call and I’m not sure that will come to fruition, but I do believe we see at least two hikes. So, going forward, as hikes are now being priced in and we have seen yields in the 10’s spike from around 1.65-1.90%, where do we go from here? I believe the market still has room to go lower and yields gravitate toward the psychological level of 2%, but currently the market is oversold, and I believe the market is quite short, so a short covering rally is certainly possible. Another important development that is starting to gain momentum is the build up in troops by Russia near Ukraine. I am certainly not suggesting that Russia will invade but the fact that there is a significant build up in troops near the border could bring a safe haven bid into treasuries at any time.