0507 GMT - The bond market has been, in a way, doing the Federal Reserve's job for it, CIFC Asset Management's Natalia Lojevsky says in a note. The two-year Treasury yield has been trading meaningfully above Fed funds for some time and "that's a Fed policy story in itself," the managing director says. It's also interesting to see a monetary-policy convergence happening, not just the bond story, she says. "It's the Fed and markets pricing in what is it now, 60% [chance] of a September hike," she says. The two-year Treasury yield falls 1.9 basis points to 4.366%, according to Tradeweb.
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