This week’s events have even started to budge this holdout into action with a little blip toward re-steepening. I’ve been wondering if the 10yr/2yr yield curve (source) would start to get in gear before or after another dip to inversion.
It’s not conclusive, but there appears to be the beginning of some steepening pressure in play as the markets continue under pressure. A steepening yield curve has been expected for 2020, whether deflationary, inflationary or alternately, both. It would signal changes ahead to the blessed Goldilocks thing that US stock market participants have been lullabied to all these years of flattening with the boom.
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