Counting The Hours Until Fed Day

While yesterday's Credit Suisse concerns were serious, the last official major bank failure happened 5 days ago. That's a very long time considering the way financial markets are trading.  After all, a swift drop of more than half a percent in 10yr yields is a big deal. 

Or is it? A shorter term chart gives a distinctly different impression versus a longer term chart.  Ask the latter and we're just consolidating in a wide range--still waiting to see if inflation and economic data justify additional Fed tightening. 

The most definitive comments on that are likely to come from the Fed itself in just under a week.