Whoever went short the 20+ year treasury might be about to cover a ~$800m position around the 28th

by 2ndSifter

For context, the date of the hypothetical FTD short was on or around 07/24/2023 which may correspond with the beginning of the recent decline. If this short was truly a naked FTD short, that position must hypothetically cover at or around the date T+35 and may initiate a bond market rally.