BLOOMBERG Bloomberg Real Yield November 18, 2017
I dont think it is that problematic, but it is telling us that there are different players in different parts of the yield curve. It is not just the shape of the u. S. Curve. It is the differentials in other curves as well. That, to some degree, is a testament to the influence of other Central Banks beside the fed. The rest of the world is still printing money. Ecb, bank of japan. The ecb has promised us they will do that until september of next year. All of this money is hurting duration and credit risks. They ultimately end up in the u. S. , and that is a very important driver. One of the we...