BLOOMBERG Bloomberg Real Yield July 13, 2024
We expect that to continue for the short term. It has been catching a lot of investors off guard. We are playing the flattening. I think it is there for a long haul. In the overall fed cycle, we would anticipate the curve should steepen somewhat. Youre seeing late market cycle behavior. Part of that is a flatter yield curve. The economy will run hot and it will keep the short and suppressed, which everyone expects. A market priced for recession, but it is telling you there are no risks whatsoever. That is not a tenable situation. The launchpad controls are in the hands of politicians right now...