In the latest episode of "Know More Risk Better," host Zach Griffiths talks with Blake Winston, a USD Rates Options Trader at Wells Fargo. They address recent key market narratives including concerns about the Treasury-futures basis trade, further swap spread tightening and potential foreign selling of Treasuries. Blake sheds light on discrepancies in the market narrative and what he sees as the key drivers of the recent selloff in cash bonds. They also discuss the recent trend of the front end and back end of the Treasury curve trading like two different asset classes and how concerns about Fed independence factor into recent market movements. This episode offers valuable perspectives for those interested in financial markets and macroeconomic trends.