Describes the selloff as a 'perfect storm' of cross-currents: lingering Fed independence concerns, the Japan yield move sparking global term premium repricing, and fiscal (Sell America) worries, exacerbated by lower liquidity and geopolitical risk.

Points to calming factors: stability in Japanese bond markets, strong corporate bond demand, and solid US economic fundamentals (strong resilient economy, inflation heading lower).

Views the selloff as an opportunity to take on duration risk while keeping credit exposure, as fundamentals remain strong.

Reiterates fundamentals are solid. If inflation behaves and no major new fiscal expansion occurs, she sees the selloff as an opportunity and expects yields to calm down and stay in a range (3.75% to 4.25% on the 10-year).

Expects little from the Fed meeting, as the 'easy risk management rate cuts are done' and the Fed is on hold. Believes Fed credibility has strengthened due to strong pushback on independence.

Will watch jobs, inflation data, and corporate issuance. Expects strong demand for fixed income due to income and diversification, but notes rising dispersion within credit markets requiring careful security selection.