At this time it is obviously a deflationary steepening. If this continues the boom as we knew it will be over. I say “as we knew it” because if it later steepens due to inflationary pressures the boom will likely shift from that which had benefited from the flattening to that which didn’t. Right now, if it were a stock chart we’d call it something of an Inverted H&S pattern. Source: CNBC
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