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Oct 2, 2023·edited Oct 2, 2023Liked by Joe Consorti
Hey Nick and Joe, for a future article if I may: It would be super interesting to get your insight/an in-depth analysis on the current bear steepening (10s minus 2s). Tbh 6 month ago the only way that I thought the 10 minus 2 would un-invert was a bull steepening, but now we actually have 10s ripping higher. I think we can agree that 10s are not going higher because of a positive outlook on the US economy ... This only leaves the US fiscal deficit on the table. Is the current dynamic literally the moment we will look back to and say: This was when the treasury market finally started agreeing with Luke Gromen? Also is this the setup that inevitable leads to yield curve control ... As always. Love and appreciate your work!
Hey Nick and Joe, for a future article if I may: It would be super interesting to get your insight/an in-depth analysis on the current bear steepening (10s minus 2s). Tbh 6 month ago the only way that I thought the 10 minus 2 would un-invert was a bull steepening, but now we actually have 10s ripping higher. I think we can agree that 10s are not going higher because of a positive outlook on the US economy ... This only leaves the US fiscal deficit on the table. Is the current dynamic literally the moment we will look back to and say: This was when the treasury market finally started agreeing with Luke Gromen? Also is this the setup that inevitable leads to yield curve control ... As always. Love and appreciate your work!
hi Flo, we will continue to discuss the steepening, what it means for all asset classes, and any signs of YCC or other central bank interventions