Here is the up close view of the spread, which continues to steepen since the summer mini-inversion.
May be nothing, probably is something. And that something would mean changes for 2020, as per the ongoing NFTRH view. While a steepening curve can feature deflationary or inflationary pressure, the current situation is deflationary. The question being, will there be an unexpected shift to inflationary in 2020?
It’s not a time for guessing, folks. It’s a time for doing the work each week. Source: CNBC
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