2s-10s spread: 28 bps
The spread between the 2-year and 10-year Treasury narrowed to just 28 basis points, signaling the market is pricing in Fed hawkishness.
Snapshot · Bloomberg Intelligence
Accenture Forecast Sends Stock Tumbling a Record 20%
Explore episode
Jun 18, 2026
Where this was said
Fed Communication Then and Now: The Fax Machine Era
At 21:03 · chapter starts 20:00
Ira Jersey pushes back on Warsh's desire for 'pure market reactions,' arguing that markets have always anticipated the Fed — even when traders received the H.4.1 balance sheet by fax. [1] — Ira Jersey "In 1994, traders received the Fed's balance sheet via fax and had to guess policy direction from data. Today's wall of Fed speak makes that…" 19:35
The 2s-10s Spread Tells the Story
The 2-year Treasury yield jumped 14–15 basis points after the FOMC meeting while the 10-year barely moved. The spread has compressed to just 28 basis points — a far cry from recent levels — reflecting market conviction that the Fed is on hold or hiking.
Similar snapshots
$14K/month in 6 months
Sam built Algrow from zero to $14,000 in monthly revenue within just six months of shipping his first MVP.
10,000 users in 6 months
Algrow reached over 10,000 users in roughly six months, driven almost entirely by organic Discord community growth.
First 400 users from Discord
Sam acquired his first 400 users entirely through Discord communities, without paid advertising or traditional outreach.
480 new customers in one month
Algrow added exactly 480 new paying customers in its most recent month, demonstrating strong ongoing growth.
£10K revenue in last 4 weeks
Sam's Stripe dashboard showed over £10,000 in revenue in the last four weeks, equivalent to roughly $13,000–$14,000 USD.
Free access for early users as growth hack
Sam gave all early users free access so they could show the tool to friends, turning them into live demos and advocates who helped the product spread virally.
No self-promo rule exploit: screen sharing
By silently screen-sharing his tool in Discord voice chats rather than posting links, Sam attracted curiosity without violating no-self-promo server rules.
$10K+ from affiliate marketing first
Before building Algrow, Sam and two friends made over $10,000 in revenue through affiliate marketing for RizzApp by posting faceless texting story content.
$13K MRR with $0 marketing spend
Bhanu grew SiteGPT to $13,000 monthly recurring revenue entirely through organic channels, spending nothing on paid marketing.
